Press release -
Hedin Automotive Signs MoU with Premium Electric Car Manufacturer BYTON
Hedin Automotive has entered into a Memorandum of Understanding (MoU) with premium electric car manufacturer BYTON as strategic Retail & Aftersales partners in Northern Europe
Chinese start-up BYTON builds intelligent electric vehicles for the future. Its premium cars integrate advanced digital technologies and offer customers a smart, connected, comfortable, and green driving and mobility experience.
- We have identified a common platform for collaboration which we believe will build momentum for the highly anticipated BYTON brand in our region. Our established network of dealerships and strong customer centric culture ensures capability to deliver the enhanced experience BYTON´S customers deserve, says Anders Hedin, owner and CEO of Hedin Group.
Clear ambition for growth
Hedin Automotive Norway has enjoyed fantastic growth and success with premium brands in Scandinavia, and the wholly owned subsidiary Bavaria is today the largest dealer group of BMW and MINI in the region.
- We will continue to grow working exclusively with premium partners focusing on exceptional customer experience. BYTON is an exciting and innovative brand revolutionising the user experience in the car. Their rethinking the entire automotive operating philosophy also resonate really well with how we do things in Hedin Automotive. BYTON has the qualities, the culture and the values that we look for in a partner, says Stig Saeveland, CEO Hedin Automotive.
BYTON has the qualities, the culture and the values that we look for in a partner, says Stig Saeveland, CEO Hedin Automotive.
Great Expectations
The BYTON M-Byte is a premium SUV and the first BYTON product to start pre-production in Nanjing. With the 48-inch display, it fulfills the promise of a forward-looking, user-oriented operating philosophy that is changing the way people spend their time in the car. The curved 48-inch display is the world's largest display in a production vehicle. BYTON currently has more than 50,000 reservations worldwide for the M-Byte.
- We approach Europe as a whole, but clearly prioritize individual markets here. These include Scandinavia and Norway in particular. We already have over 14,000 vehicle reservations from Norway alone via our app and website. More than 50 percent of all new cars currently sold in Norway are already electrically powered, says Andreas Schaaf, BYTON CCO.
The BYTON M-Byte is positioned in the premium segment with a very competitive entry price of €45,000 (excl. VAT and excl. possible government subsidies).
The BYTON M-Byte is a premium SUV and the first BYTON product going into pre-production in Nanjing at present. The name BYTON derives from "bytes on wheels" symbolizing the concept of creating the next generation smart device, replacing horsepower with data power in cars.
Continued brand focus
Should the MoU be converted into a formal Retail & Aftersales partner agreement, Hedin Automotive will establish a separate, fully dedicated BYTON organization in line with the company's other brands.
About Hedin Automotive Norway
Hedin Automotive is a wholly owned subsidiary of Swedish I.A. Hedin Bil AB. The Company owns and operates Bavaria, one of the largest dealers of BMW and MINI in the Nordics, Hedin Automotive AG (BMW and MINI in Switzerland), Hedin Performance Cars (Porsche in Norway) and GS Car Parts - Norway's largest independent supplier of spare parts and accessories for BMW. Hedin Automotive has a turnover of NOK 6 billion, employing more than 800 employees.
About Hedin Bil
I.A. Hedin Bil is one of the largest privately-owned automotive retailers in Europe, with 32 brands in the portfolio, offering full service for private and corporate customers. Financing, service and insurance are some of the components of the total offer. Hedin Bil is represented in more than 125 locations in Sweden, Norway, Switzerland and Belgium. Hedin Bil Is a part of the Anders Hedin Invest Group together with Klintberg & Way Group, Mabi Rent, Car to Go Sweden, Hedin IT and their real estate group. Anders Hedin Invest Group has a turnover of approx. 2,7 billion EUR and 4,000 employees.
