BYD intends to establish four manufacturing facilities in Europe, consisting of three vehicle assembly plants and one battery production site. The company is currently negotiating with European governments and local automakers to potentially acquire underutilized automotive factories in countries including France, Italy, and Spain.
Alfredo Altavilla, a BYD advisor and former Fiat Chrysler executive, stated that these expansion plans are necessary to meet European Union regulatory requirements and achieve the company's long-term sales targets. While Italy remains a potential candidate for a new facility, the company is still evaluating conditions to ensure maximum competitiveness.
The move comes as the European Union imposes tariffs on Chinese-made electric vehicles and introduces new local manufacturing regulations. BYD is also exploring the acquisition of struggling European automotive brands to support its international growth strategy, as noted by Executive Vice President Stella Li.
BYD is currently expanding its presence in the European luxury market by introducing the Denza brand, with new showrooms recently opened in Turin and Paris. In the first half of the year, the company reported that its revenue from overseas markets exceeded its domestic revenue in China for the first time.
