They don’t like Russia: the Chinese automaker is ready to build several factories in Europe, but not a single one

2024-04-24 13:32+03:00

BYD plans to build a second plant in Europe

Chinese manufacturer BYD is actively planning to expand its production in Europe. As Stella Li, executive vice president of BYD and chairman of BYD Europe, said at an event in Shenzhen, one plant on the old continent may not be enough – two or even more plants may be built.

After announcing the construction of a plant in Hungary by the end of this year, BYD is considering opening new production facilities in countries such as Italy, Spain, France or Germany.

“Producing in Europe requires more energy and labor, but localizing production and investing in the region can strengthen brand perception, create jobs and actively participate in economic and social life,” Li said.

BYD is in a strong growth phase with its production of electric vehicles and plug-in hybrids. By the end of the year, the company plans to open three or four more new plants, one of which has already been announced and will be located in Mexico. BYD’s product range is now wider than ever and includes models such as Seal, Seal U, Dolphin and Atto 3, which are aimed at a wide market, as well as premium and luxury brands Denza (a joint venture with Daimler), Fangcheng Bao and YangWang.

In Europe, BYD is focusing on hybrid technologies. The company continues to develop its DMI technology, in which the electric motor is powered by a battery charged by an internal combustion engine. This technology will soon appear in the Seal U crossover.

Taking into account the characteristics of European cities and roads, BYD is also planning the release of a compact electric car, BYD Seal, which will hit the market in a new version, different from the one already presented previously.