Chinese car giant aims to have 'six per cent' of the UK's electric vehicle market share

The manufacturing giant is one of the best-selling companies in the world and has ambitious plans to dominate the European EV market.

This comes as BYD surpassed the five million production mark for “new energy vehicles” in August, with the company claiming to be the first automaker to achieve the milestone.

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Simon Bisp, BYD UK head of sales, said: “Over committing in some channels puts pressure on residual values.

“Our growth will be built on customer demand, and we are confident we have the support to get the volumes we need to meet that demand.

“A target of six per cent share of the electric vehicle market means we won't be more than six per cent in any one channel,” he told Fleet News.

It is believed that a six per cent market share would see the brand selling around 21,000 electric vehicles every year.

The Shenzhen-based manufacturer received a major boost of confidence for UK uptake after launching with Octopus Energy as part of its salary sacrifice scheme.

Octopus purchased 5,000 BYD Atto 3 models in what was the largest deal for the specialist energy provider at the time.

Simon Bisp also spoke about the brand’s ambition to have a large vehicle stock available in the UK to keep lead times under a month.

However, he warned that if demand outweighed supply, drivers could expect a three or four month waiting time.

BYD will continue to increase its expansion in the UK and across Europe to ensure the brand becomes a mainstay in the EV conversation.

Last month it was reported that BYD would be removing the “Build Your Dreams” slogan from the majority of its European car sales.

It is believed the slogan is off-putting for potential buyers and even dealerships from stocking the popular BYD Seal saloon.

The brand is also looking to sell cheaper electric vehicles which are closer to the average person’s budget when it comes to buying a new car.

This includes the BYD Dolphin hatchback, which is expected to sell for £25,000 and could quickly become one of the cheapest EVs on the UK market.

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Despite the lower price tag, the vehicle will come equipped with an impressive 265-mile range and has been described as “sophisticated” with an “elegant design”.