BYD to build hundreds of new charging stations in South Africa

Chinese electric vehicle maker BYD plans to invest in as many as 300 fast charging stations in South Africa by the end of 2026 as it ramps up efforts to expand globally, executive vice president Stella Li said in an interview.

BYD is in the initial stages of building out dealerships in the country, Li said in a Bloomberg TV interview in Johannesburg.

“This is big money, this is a big investment,” Li said, referring to the charging facilities. South Africa “is an important market for us.”

The company is grappling with a fierce China price war that is eroding its market dominance at home.

The EV behemoth experienced its first monthly sales decline in 18 months in September, losing the title of China’s best-selling brand in the period.

BYD, a competitor to Elon Musk’s Tesla cars, holds about a fifth of the world’s electric vehicle market share and is doubling down on efforts to penetrate emerging markets and Europe.

The Chinese company, new to Africa’s biggest and most industrialized economy, has no immediate plans to manufacture vehicles in the country, Li said.

BYD, though, is “double and tripling” down on building out its dealership network and fast charging infrastructure, she said.

The rise in the mid-market segment has been luring carmakers to South Africa.

India’s Tata Motors has started distributing its vehicles, while Mahindra has expanded its assembly plant in South Africa.

More than a third of the vehicles sold in the African nation are exported from India or China, according to Toyota Motor, South Africa’s most popular auto brand.

Automakers such as BMW, Ford Motor Company, Toyota, Volkswagen and Mercedes-Benz Group have plants in South Africa.

Chinese automakers Great Wall Motor Company and Chery Automobile have plans to begin assembling vehicles in the country.