BYD plans to build four new plants in Europe to boost EV production - Business AM
Article excerpt
To strengthen its presence in Europe and comply with local production regulations, BYD intends to open four sites across the continent. According to Alfredo Altavilla, the company's European advisor and former Fiat Chrysler executive, the long-term strategy involves building one EV battery plant and three car assembly sites.Altavilla emphasized that, while these developments are not immediate, they are essential for achieving sales targets and meeting European Union requirements. The Chinese automaker is currently negotiating with various governments and competing companies to acquire existing plants that are not operating at full capacity, specifically targeting sites in Spain, France, and Italy.This move towards regional production comes as the EU implements tariffs on electric vehicles imported from China and develops 'Made in Europe' guidelines, two measures that compel BYD to strengthen its local presence. Although facing intense price competition in its domestic market, BYD has seen a strong increase in its sales in Europe, partly due to rising fuel costs following conflicts in the Middle East.However, this expansion has not been without its challenges; for example, a plant in Hungary has been subject to allegations of labor law violations involving subcontractors, although BYD states it complies with all legal standards. Regarding site selection, Altavilla indicated...
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To compete with well-established luxury automakers, the company is launching its Denza brand in the European market and recently opened new showrooms in Paris and Turin.
