China's BYD signs car parts distribution agreement in Italy

Chinese electric automaker BYD (1211) said on Friday it signed a car parts distribution deal with Italian company Intergea, as part of its strategy to boost its presence in a key European market.

Chinese auto producers are looking to boost sales in Europe while their domestic market slows down, counting on their advantage on EV technology, and setting up manufacturing and assembly plants in the region.

Under the partnership announced on Friday, original BYD car parts will be made available within 48 hours throughout Italy by CRF, a unit of Intergea, starting from May.

The deal is a "key step towards breaking the preconception about the difficulty of finding spare parts for Asian vehicles, an issue often perceived as an obstacle to purchase." BYD said in its statement.

BYD had said in March it aims to double its sales outside China to more than 800,000 cars in 2025.

REUTERS