LONDON: British auto dealer Pendragon Plc is in advanced discussions with BYD Co. to be its UK launch partner as China’s biggest electric-vehicle maker enters the market later this year.
The move is part of Pendragon’s broader efforts to boost its new car franchise business, the London-based company said in a statement Wednesday, after posting 1.6% first-half revenue growth.
Supply problems with both old and new cars contributed to "challenging trading conditions” in the period, said chief executive officer Bill Berman, along with high levels of inflation.
Berman said he expects "the environment to remain challenging in the second half of the year.”
However, the company said it was "excited to be in advanced discussions with electric vehicle manufacturer BYD to be the UK launch partner.”
Talks come as BYD strives to expand its business beyond China and become a global brand.
Early in September, the company signed a land-purchase deal in Thailand to construct its first EV plant in South-East Asia.
Elsewhere, BYD is also targeting Cambodia, Denmark, Japan, Sweden and Israel in its push to build presence abroad.
