The other partner in the BYD retail joint venture – which has exclusivity in selling BYD throughout Australia – is BYD distributor EVDirect.com. Eagers Automotive’s (APE) stake was bought from EVDirect.com for $70 million ($50m in cash and $20m in APE shares).

In a statement to the Australian Securities Exchange (ASX), APE said that the increased ownership interest “strengthens Eagers Automotive’s position as the exclusive retail partner for BYD and EVDirect.com in the Australian market and further demonstrates Eagers Automotive’s unique positioning as a leader in the once in a generation transition to new energy and low emission vehicles.”

Independently of the BYD retail joint venture, EVDirect.com holds the exclusive distribution rights for BYD in Australia.

Luke Todd

EVDirect.com CEO Luke Todd said the capital from the deal would allow his company to invest further in EV technology and in EV manufacturing, logistics and supply chain processes established in partnership with BYD for the Australian market. 

 “The first year of deliveries of BYD products has been highly successful and unprecedented by volume and nationwide expansion,” he said.

“With four more BYD models slated for release and delivery in Australia by the end of 2024, the BYD brand will continue its exponential growth. 

“Our company will continue investing in streamlined supply chain processes and product development of BYD vehicle models for the Australian market.”

EVDirect.com next month will open a dedicated BYD Service and Fulfilment Centre in Mascot, NSW. This is the first of a planned series of centres.

BYD experience centre in Darlinghurst, Sydney

Mr Todd told GoAutoNews Premium that the Mascot site alone can prepare cars from seaport to customer handover at a rate of 100 vehicles daily, greatly improving delivery times to customers while ensuring a better quality of delivery. 

 In conjunction with APE, EVDirect.com will also launch BYD Megastores in Sydney and Brisbane in September this year.

In addition, Mr Todd said that it will roll out the BYD Megastore concept that “heralds a new era of automotive retail, providing customers with an immersive and educational experience into the BYD brand and product range.”

He said the aim of the Megastore – which he believed to be a world first – was to showcase the EV technology and BYD products while educating prospective buyers about EV features including charging and vehicle safety.

“As electric vehicle demand is now moving to mainstream for Australian consumers, we are introducing a world first in automotive retailing and will make it easier for consumers to transition to cleaner and more economical transport options,” he said.

The Megastore concept will also be expanded to include other cities, with Sydney and Brisbane to be followed initially by two more outlets.

By Neil Dowling