The Chinese manufacturer, which intends to become the leader in electric cars on the Old Continent, is studying the opening of a new production site in Europe. Meanwhile, BYD’s Hungarian factory will start manufacturing battery models in 2025.
BYD could open a second factory in Europe, after that of Szeged in Hungary. ©BYD
BYD wants to overtake Tesla in Europe by 2030 on the electric car market, particularly with entry-level models, indicated Michael ShuEuropean director of the Chinese manufacturer, during the annual conference of Financial Times (FT) on the future of the automobile.
“We are confident that we could become leaders“by the end of the decade in Europe, he said. BYD’s first European car factory is due to start in 2025 in Hungary, where it already manufactures buses.
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The new factory in Szeged (Hungary) will manufacture electric cars “in Europe and for Europe“, Michael Shu pointed out. If BYD is sending thousands of cars on its own cargo ships, “exporting cars from China to Europe is not feasible in the long term“, commented the manager.
Szeged should also manufacture plug-in hybrid models because Europe has lagged behind in installing charging stations, according to the European director.
Chinese President visits Hungary
Hungary has become an important base for Chinese industry, a cooperation celebrated with the president’s arrival Xi Jinping for almost three days of visit, after a visit to France.
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Other investments are to come on European soil. BYD is preparing to “make a heavy investment“, which could represent “several billion euros“, in factories, distribution networks and marketing, announced Michael Shu.
France in the ranks?
In particular, BYD must decide in the coming months whether it will build a second European car factory. The French Minister of the Economy Bruno Le Maire said in this regard that BYD and the Chinese automobile industry were “welcome to France“.
The manufacturer is just beginning its offensive in Europe, with mid-range vehicles at competitive prices. BYD could, however, position itself fairly quickly in the electric entry-level with its small Seagull, priced around 20,000 euros, and compete with the Citroën C3 and future small electric Renaults or Volkswagens. (with AFP)
