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.
