Malta, October 17, 2024 - Chinese electric vehicle giant BYD has begun selling its Atto 3 model in Malta, marking its expansion into new markets. The compact electric crossover, priced at approximately $28,000, features a 60-kilowatt-hour battery providing a range of 260 miles.
BYD's entry into Malta is part of a broader strategy to target emerging markets with minimal local automotive competition. The company has increased its annual sales in China by 15 times, now exporting to around 95 markets worldwide.
Despite facing protective tariffs in the US and EU, BYD aims to establish itself as a globally recognized consumer brand. Executives emphasize their goal of combating climate change and providing affordable electric vehicles.
Stella Li, BYD's executive vice president, stated the company's mission is to be seen as a technological pioneer, similar to how consumers view Apple products. BYD's rapid global expansion has raised concerns among US lawmakers about the potential impact on domestic automakers.