BYD’s floating car takes centre stage at Geneva Motor Show. Check details

BYD, having emerged as China's leading carmaker, is now turning its attention to Europe, seeking to diversify its revenue streams and avoid the intense price competition in its domestic market. At the Geneva car show, BYD is showcasing its ambitions with a lineup that includes a 1,200-horsepower luxury SUV capable of floating on water, highlighting its technological prowess and its entry into the luxury market.

While BYD is pushing forward with its European expansion, established automakers in the region are grappling with the challenges of transitioning to electric vehicles amidst a slowdown in demand for new technology. The Yangwang U8 plug-in hybrid, with its unique ability to perform a 360-degree "tank turn," is positioned to compete with prestigious models like the Mercedes-Benz G-Class and the Land Rover Defender, signaling BYD's intent to compete in the luxury segment.

Alongside these high-end offerings, BYD is also presenting more accessible models at the Geneva show. The revamped Seal sedan and the fully electric Tang, boasting a range of 530 kilometers on a single charge, cater to the mass market, aimed at demonstrating BYD's commitment to offering a diverse range of electric vehicles.

Despite its success in China, it remains unclear how successful the company will be with European drivers. Brussels is investigating the extent to which China has supported its EV makers — including BYD — in a probe that could result in the levying of additional tariffs as early as July.

Meanwhile, European automakers like VW, Stellantis, and Renault are ramping up efforts to offer affordable EVs, with Renault showcasing its R5 E-Tech EV at the show, set to deliver 400 kilometers of range on a single charge.

Mercedes-Benz and BMW are also set to introduce new EVs with advanced technology by the middle of the decade. Some European automakers are even considering collaboration to counter the growing competition from Chinese manufacturers like BYD.

While BYD has not disclosed pricing or availability details for its European models, the Yangwang U8 is currently priced at around $150,000 in China, indicating that prices in Europe may be higher than in the domestic market. Additionally, BYD's premium Denza brand, in which Mercedes holds a 10% stake, is slated to debut in Europe later this year.

Additional brands at the Geneva car show this week include Lucid, MG Motor and Isuzu. Most of Europe’s major carmakers are absent.