Source: Gasgoo
Michael Shu, BYD’s European managing director, said the company would consider setting up a second assembly plant in Europe in 2025 at the “Future of the Car” conference on May 9.
The move comes days after France said it would welcome BYD to build a factory there. French Finance Minister Bruno Le Maire said the country would welcome Chinese electric car giant BYD if it decided to open a factory in France.
Image source: BYD
BYD wants to be Europe’s leading electric car maker by 2030. “We are confident that we will be in a leading position by 2030.”
In December, BYD said it would build an electric car factory in Hungary, becoming the first major Chinese automaker which have a manufacturing base in Europe.
Unlike some other EU countries, Hungary has become an important trade and investment partner for China under the leadership of Prime Minister Viktor Orban. A growing number of electric vehicle and battery manufacturers have begun to set up factories in Hungary. Over the past five years, Hungary has received around 20 billion euros in electric vehicle related investments, including 7.3 billion euros from Ningde Times to build a battery plant in the eastern city of Debrecen.
Since September 2022, BYD has actively laid out the European market, and joined hands with partners across the country to rapidly introduce a number of its new energy models to 20 European countries, including Germany, the United Kingdom, Spain, Italy, France, the Netherlands, Norway, and Hungary, with a cumulative opening of more than 250 stores. The second European plant will mark the next step in BYD’s green journey to Europe.
