Portuguese group Hipogest to sell Chinese cars in Portugal and Angola

5 February 2007

Lisbon, Portugal, 5 Jan – Portuguese group Hipogest, a holding company for businessman Hipólito Pires, has signed a contract for exclusive import of Chinese car brand BYD to Portugal and Angola, Portuguese financial newspaper, Jornal de Negócios reported.

Speaking to the paper, Pires said that the sale of the cars would begin in 2008, from a network of 30 showrooms that had already been prepared.

The businessman has mentioned his aim of selling Chinese cars in Europe, Africa and Brazil for over a year now. Pires began by negotiating with the Geely brand but the agreement with the carmaker has not as yet been signed.

The contract was signed during a visit by the Portuguese prime minister to China and Pires was part of the official Business delegation to travel with him.

Pires also said that the agreement aimed to offer the Portuguese and Angolan markets, “a technologically advanced product, that is reliable and safe at the best price,” thus increasing the range of products available in the car sector.

BYD Auto is a subsidiary of the BYD Company, a group headquartered in Shenzhen and listed on the Hong Kong Stock Exchange. It has factories in Shanghai, Beijing and Xian. (macauhub)