BYD, the Chinese electric vehicle giant, is planning a significant expansion of its manufacturing footprint in Europe, aiming for three vehicle assembly plants and one battery factory in the region over the long term. This strategy is crucial for meeting its ambitious volume targets and adhering to European Union regulations, as stated by Alfredo Altavilla, BYD's special adviser for Europe. The company has already begun production at its first European plant in Hungary.
A decision regarding the location of the second manufacturing site is anticipated by the end of the year. Instead of constructing new facilities, BYD is actively seeking to acquire and refurbish existing plants, with Spain and France identified as preferred locations. This approach aligns with previous statements from Stella Li, BYD's executive vice president, who indicated a preference for taking over an existing factory in southern Europe, with Spain on the shortlist.
While the exact timeline for all three assembly plants and the battery factory is not set, Altavilla emphasized that this expansion will not happen overnight. However, it is considered essential for BYD to achieve its planned sales volumes and navigate the European regulatory landscape. The company also intends to produce heavy-duty trucks locally in Europe in the future, with the first model expected next year, further solidifying its long-term commitment to becoming a "European company" and potentially avoiding import tariffs.
