Australia’s largest car dealership group Eagers Automotive has signed a five-year deal to be the exclusive retailer in Australia for fast-growing Chinese electric vehicle maker BYD which its chief executive says is a brand viewed globally as the main competitor to industry pioneer Tesla.
Keith Thornton said Eagers is taking a 49 per cent equity stake in a joint venture entity with BYD for Australia, with BYD’s first vehicles to go on sale in Australia in July.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
