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BYD Vs Tesla: The World’s Top EV Maker Enters Cyprus—And It’s Just The Beginning

by News Editor

April 15, 2025

The electric vehicle giant that dethroned Tesla in global sales is officially entering the Cypriot market. BYD—short for “Build Your Dreams”—has tapped Alpan Group, a subsidiary of Sfakianakis SA, as its exclusive distributor on the island, marking another step in its fast-paced global expansion.

A Strategic Partner With Local Muscle

Alpan Group is no stranger to scale. As the exclusive importer of Samsung smartphones and major appliance brands like Kenwood, DeLonghi, Braun, and Sage, the company already commands a significant share of the Cypriot tech retail space. Through its chain of nine Electroline stores, Alpan has built deep local infrastructure, while holding an impressive 45% of the island’s mobile market via Samsung.

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In late 2023, Alpan ventured into long-term vehicle leasing through its subsidiary Executive Lease—signaling early interest in the mobility sector. Since October 2024, Alpan has been a fully owned arm of Sfakianakis SA, one of Greece’s most powerful commercial groups, with operations spanning 14 countries in Southeastern and Central Europe and a 2024 turnover of €700 million.

Commenting on the BYD deal, the President and CEO of both Alpan and Sfakianakis noted their ambition to become a driving force in the region’s shift to electric mobility, promising to bring Cypriot drivers closer to smart, sustainable transport.

The Brand That Overtook Tesla

Founded in 1994 in Shenzhen by tech entrepreneur Wang Chuanfu, BYD started out as a battery manufacturer. Fast forward three decades, and it’s now a global EV heavyweight, producing electric and plug-in hybrid vehicles across six continents and selling in over 400 cities worldwide.

The numbers tell the story: BYD sold 4.27 million vehicles in 2024, a 29% jump year-over-year, with revenue hitting $107 billion—surpassing Tesla’s $97.7 billion. And the momentum isn’t slowing: BYD is projected to sell 5.5 million vehicles in 2025, with 800,000 destined for markets outside China.

Building Roots In Europe

To sidestep EU tariffs on Chinese-made vehicles—currently 27% for BYD imports—BYD is building its first European manufacturing facility in Hungary, set to open in 2025. A second factory is also under consideration, underscoring BYD’s long-term vision for the European market.

As Cyprus gets ready to welcome one of the world’s most advanced EV makers, the local landscape for electric mobility is about to change—and Alpan Group is placing itself in the driver’s seat.

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Coinbase Faces $20 Million Ransom Demand After Data Breach

by News Editor

May 16, 2025

In a shocking revelation, Coinbase reported a significant security breach this Thursday. Cybercriminals managed to bribe overseas support agents to gain access to sensitive customer data—a strategy employed to facilitate social engineering attacks.

According to a SEC filing, the attack could cost Coinbase up to $400 million in recovery and enhancements. The breach, discovered independently by Coinbase, triggered an immediate response from the crypto giant. Affected employees were terminated, and impacted customers were promptly notified, although passwords and financial assets were reportedly untouched.

Coinbase decided to establish a $20 million reward fund for information leading to the perpetrators rather than succumbing to the ransom demands. This comes in the wake of major business strides, including an S&P 500 stock index entry and a strategic acquisition aimed at expanding its global footprint. Notably, Coinbase’s CEO, Brian Armstrong, reaffirmed ambitions to elevate the platform to become the top financial services app worldwide in the next decade.

As digital security remains crucial, awareness of similar endeavours like cyprus campaign to attract diaspora talent stresses an increasing need for reliable platforms. As the situation unfolds, both investors and customers remain vigilant, underscoring the importance of security in the growing crypto landscape.