China’s BYD to Open 20 Car Dealerships in Canada this Year

Canada is considering Chinese auto-industry investments to reduce dependence on the United States

By Albertina Torsoli

BYD Co. is opening some 20 sales locations with partners in Canada this year as the country’s government is considering Chinese auto-industry investments to reduce dependence on the United States.

“The overture of Canada is a very important one,” Alfredo Altavilla, a former Fiat Chrysler Automobiles manager who now advises BYD in Europe, said in an interview in Paris. “We immediately took action to establish a sales network there.”

Canada has been courting Chinese investments to bolster its car industry amid a broader trade deal with Beijing. In January, the government agreed to allow in as many as 49,000 Chinese-built electric vehicles a year, after previously keeping them out with high tariffs.

Last month, BYD said it’s actively considering building a factory in Canada, while also keeping its options open to acquire a more established global automaker.

The company has also been expanding in Europe, where it’s among a range of Chinese brands increasing sales with affordable electric and plug-in hybrid models.

With assistance from Brian Platt and Daniele Lepido.

Bloomberg.com

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