The Chinese car manufacturer BYD has officially entered the Ethiopian market with the introduction of five battery electric vehicle (BEV) models, including the compact hatchback Seagull and the Tang SUV.
The company, a prominent player in the new energy vehicle (NEV) sector, announced its market entry during a recent brand launch event held in Addis Abeba, in collaboration with its Ethiopian distributor, MOENCO, one of the largest automotive distributors and retailers in the country, representing over 20 brands, including Toyota.
BYD has also inaugurated an after-sales service center and showroom in Kality, Addis Abeba, to provide local customers with car purchase and maintenance services.
“This entry into the Ethiopian market marks a significant milestone in BYD’s expansion within the East African region,” stated Ramy Yao, Sales Director of BYD Africa.
In a recent social media post, MOENCO, a subsidiary of Inchcape PLC, a London company, announced the inauguration of its new vehicle showroom in Addis Abeba, located at the Kal Building in the Megenagna area. The showroom will feature BYD cars.
As the authorized distributor of BYD in Ethiopia, MOENCO revealed that it now offers a range of appealing and durable electric and hybrid vehicles, backed by warranties of up to six years or 150,000 kilometers for vehicles and up to eight years for batteries.
According to BYD, the company has now established a presence in 13 countries and regions across Africa.
A recent report by Reuters indicates that BYD is on track to surpass its ambitious annual sales target of four million vehicles, surpassing the sales figures of both Honda (Japan) and Ford (Detroit) in global sales for 2024.
The news report further highlights that the Chinese electric vehicle giant achieved a delivery figure of 3.76 million vehicles within the first eleven months of 2024, with November alone witnessing the sale of 506,804 units.
In May 2024, the Ministry of Transport and Logistics announced the government’s plan to introduce nearly 500,000 electric vehicles (EVs) over the next decade as part of an ongoing transition to electric mobility.
According to a statement issued by the ministry, the initial 10-year strategic plan aimed to import approximately 148,000 electric automobiles and 48,555 electric buses between 2021 and 2030. However, this target was achieved within the first two years of implementation. As a result, the ministry revealed that the government has revised the national strategy, establishing a new goal of importing 439,000 EVs within the same 10-year timeframe.