- The new store, which covers more than 1,000 square meters, is the first BYD flagship showroom in Peru.
- BYD launched the Yuan Up electric compact SUV in Peru.
BYD (HKG: 1211, OTCMKTS: BYDDY) has seen its first flagship showroom in Peru open, marking a stepped-up effort by the Chinese new energy vehicle (NEV) maker to expand in the South American country.
The company's Peruvian distributor, Motorysa, announced on April 22 the opening of its first BYD-branded flagship store in the La Molina commercial area of Peru's capital, Lima, according to an announcement yesterday.
The new store, which covers more than 1,000 square meters, is located in one of Lima's busiest core areas and offers services including customization, test drives, and after-sales.
By now, BYD's stores in Lima have covered La Molina, Plaza San Miguel and Plaza Norte, three important local shopping districts, enriching its local sales network, the company said.
Alongside the store opening, BYD launched the Yuan Up electric compact SUV in Peru.
The SUV has an NEDC range of 380 kilometers on a single charge and can accelerate from 0 to 100 kilometers per hour in 7.9 seconds.
BYD announced a strategic partnership with Motorysa last December to officially enter the Peruvian market with the BYD Song Pro, Tang, Yuan Up, Seal and BYD Shark.
BYD planned to open six to seven stores in Peru in 2025, it said at the time.
In July 2024, Peru's foreign minister, Javier González-Olaechea, said that BYD could potentially build an assembly plant in Peru, just as it had been doing in two other countries in Latin America, Mexico and Brazil.
BYD ceased production and sales of cars powered entirely by internal combustion engines in March 2022, switching to focus on the production of plug-in hybrids (PHEVs) and battery electric vehicles (BEVs).
The company sold 377,420 NEVs in March, up 24.78 percent year-on-year and up 16.90 percent from February, according to figures it announced on April 1.
It sold a record 72,723 vehicles overseas in March, up 89.22 percent year-on-year and up 8.50 percent from February.
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