BYD is actively expanding its global presence to increase sales outside of China. The company identifies Europe as a key market for its electric vehicle strategy, aiming to capture market share despite existing competition.
To mitigate the impact of high European Union tariffs on vehicles manufactured in China, the company intends to establish local production. The current strategy includes building three vehicle assembly plants and one battery factory within the region.
The company has already commenced production at its first European facility located in Hungary. According to Alfredo Altavilla, a decision regarding the second manufacturing site is expected by the end of the year.
Rather than constructing new facilities from the ground up, BYD is focusing on acquiring and refurbishing existing industrial sites. Spain and France are currently identified as the preferred locations for this expansion.
