BYD will tap the European market with its green technology. In addition to the all-electric e6 model which it plans to launch to the European market in 2011, it will also introduce the F3DM plug-in hybrid compact sedan in due time, Henry Li said. BYD will first expand business in the countries and cities that offer subsidies for electric vehicle purchases.

BYD aims to be the largest domestic automaker in China by 2015 and the world's top automaker by 2025. At present, BYD ranks sixth in China for market share in car sales, with 2009 sales reaching 415,000 units. In 2010, the company is expected to report sales of 800,000 units, while the sales target for the European market has yet to be announced.

Additionally, Volkswagen and Daimler have already signed separate cooperation agreement with BYD, to develop the battery and engine, and electric vehicles respectively.