BYD Automotive GmbH and Hedin Mobility Group have entered into an agreement transferring the distribution activities of BYD vehicles and spare parts in the German market to BYD Automotive GmbH.
BYD Automotive GmbH, as the purchaser, and Hedin Mobility Group, as the seller, have entered into an agreement for the sale of the subsidiary Hedin Electric Mobility GmbH, the appointed Dealer+ of BYD vehicles and spare parts in the German market.
The transaction also includes a business transfer of the two pioneer stores in Stuttgart and Frankfurt which are operated by Hedin Mobility Group’s German retail division.
Following the transaction, Hedin Automotive eMobility GmbH will remain an authorized retailer of BYD in Germany with three sales points in Mannheim, Kaiserslautern and Saarbrücken. Hedin Mobility Group will also continue to act as Dealer+ and retailer in the Swedish market as part of its long term partnership with BYD.
The transaction is subject to regulatory approval and closing is expected to take place in the fourth quarter of 2024.
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