Eagers increases local sales venture investment as BYD prepares to launch Megastores in Australia

BYD, the second best-selling electric vehicle brand in Australia, is set to open a series of “Megastores” in the country. The move is part of a deal between BYD’s Australian distributor EVDirect and established car distributor Eagers Automotive. The first Megastores will be located in Sydney and Brisbane and will offer a new experience for drivers looking to switch to electric vehicles (EVs). These stores will provide educational experiences around the BYD brand and its products. EVDirect CEO Luke Todd describes the Megastore concept as a new era of automotive retail. BYD has already launched the popular Atto 3 electric SUV, with nearly 7,000 deliveries by the end of May, and plans to introduce four additional models in Australia by the end of 2024.

As part of the deal, Eagers will invest $70 million to increase its stake in the joint venture, EV Dealer Group Pty Ltd, to 80%. This additional investment will enable the joint venture to launch dedicated BYD service and fulfillment centers across major cities in Australia. The first center, located in Mascot, NSW, is expected to open in August 2023. It will have the capacity to prepare and deliver up to 100 EVs per day, catering to the increasing demand for EVs in Australia.

In June, BYD launched Australia’s most affordable EV, the BYD Dolphin, with deliveries expected to begin in September. The Dolphin has received positive reception, with pre-order volume surpassing expectations. It is one of the few vehicles on the market to offer premium paint colors at no additional cost to the customer, making it even more attractive for those considering switching to an EV.

BYD’s sales have exceeded targets, and the focus now is on growth. With the success of the Atto 3 and the upcoming Dolphin hatchback, the brand aims to scale its operations to meet the needs of current and future customers. The newly announced BYD Megastores and dedicated service and fulfillment centers will play a crucial role in driving more EVs onto Australian roads.

The article was written by Riz Akhtar, the founder of carloop, a Melbourne-based company specializing in Australian EV data, insight reports, and trends. As a mechanical engineer with a passion for cars, particularly EVs, Akhtar aims to help reduce transport emissions in Australia. He currently drives a red Tesla Model 3.
Eagers Automotive Limited, one of the leading automotive retail companies in Australia, announced its increased investment in local sales ventures as BYD, a major Chinese electric vehicle manufacturer, prepares to launch its Megastores in the Australian market. This move reflects the growing momentum of the electric vehicle industry and highlights the commitment of both Eagers and BYD to capitalize on this trend.

Eagers Automotive Limited, with a rich history spanning over 100 years, has made a name for itself in the automotive retail sector. The company has successfully positioned itself as a trusted provider of high-quality vehicles and services across Australia and New Zealand. Now, with the rise of electric vehicles, Eagers recognizes the need to adapt and seize the opportunities presented by this emerging segment.

As part of its strategic plan, Eagers has decided to increase its investment in local sales ventures. This move aims to enhance their network and capabilities to cater to the growing demand for electric vehicles. By establishing a strong foothold in the electric vehicle market, Eagers intends to leverage its existing customer base and reputation to further expand its business.

Simultaneously, BYD, a renowned global leader in the electric vehicle industry, is set to launch its Megastores in Australia. The Megastores, spanning over 2,000 square meters, will feature a variety of electric vehicles, including passenger cars, commercial vehicles, and even electric buses. BYD’s entry into the Australian market will undoubtedly intensify competition among electric vehicle manufacturers. This launch also signifies BYD’s confidence in the potential of the Australian market and its commitment to providing sustainable transportation solutions.

The partnership between Eagers and BYD marks a significant step towards promoting electric vehicle adoption. Eagers’ investment in local sales ventures aligns perfectly with BYD’s Megastores’ arrival, allowing consumers to explore a wide range of electric vehicles conveniently. This collaboration aims to break down barriers to entry for potential electric vehicle customers and make the transition to sustainable transportation more accessible.

Furthermore, this joint venture is expected to stimulate job growth within the Australian automotive industry. The establishment of Megastores will require the hiring of additional staff. Additionally, the increased demand for electric vehicles will create opportunities for training and upskilling automotive professionals. Ultimately, this collaboration between Eagers and BYD has the potential to make a significant economic impact.

The timing of this collaboration couldn’t be more fitting. The world is witnessing a global shift towards sustainability and decarbonization. Electric vehicles are at the forefront of this revolution, offering a cleaner and greener mode of transportation. Australia, with its vast landscape and increasing focus on renewable energy, is an ideal market for electric vehicles. The arrival of BYD’s Megastores, supported by Eagers’ increased investment, will accelerate the adoption of electric vehicles in the country.

In conclusion, the partnership between Eagers Automotive Limited and BYD in the Australian market exemplifies the growing momentum of electric vehicles. Eagers’ decision to increase its investment in local sales ventures demonstrates their commitment to embracing this emerging segment. Simultaneously, BYD’s launch of Megastores signifies its confidence in the Australian market and its dedication to providing sustainable transportation solutions. Together, Eagers and BYD aim to drive the adoption of electric vehicles, boost job growth, and contribute to Australia’s shift towards a greener future.