Market Chatter: BYD Makes Senior Hires to Revive Momentum in Germany

MT Newswires Live
Sep 26

BYD (HKG:1211, SHE:002594) is stepping up efforts in Germany with a string of senior appointments following a recent slowdown in sales, Bloomberg News reported Thursday.

The Chinese EV maker named four new managers, including Christian Lochner, formerly with Fiat Chrysler and Mitsubishi Motors (TYO:7211), as key account manager for fleet sales and dealer support, according to the report.

Birk Pfennig, who previously worked at Hyundai Motor (KRX:005380) and Volkswagen's Seat brand, was reportedly appointed to lead retail sales.

The company has also tapped several former Stellantis executives in recent months, including Maria Grazia Davino, ex-head of its UK business, and Alessandro Grosso, former vice president of Italy sales, it added.

The hires highlight BYD's bid to regain momentum in a market dominated by Volkswagen, Mercedes-Benz, and BMW, while also facing new pressure from Stellantis' Chinese partner Leapmotor, Bloomberg wrote.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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