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2mo ago

BYD Explores Germany for Potential Third EV Plant in Europe

The Chinese automaker is considering expanding its European footprint but has not yet made a final decision due to challenges such as high costs and geopolitical factors.

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The logo of BYD on display at the Everything Electric exhibition at the ExCeL London international exhibition and convention centre in London, Britain, March 28, 2024. REUTERS/Peter Cziborra/File photo

Overview

  • BYD is evaluating Germany as the leading candidate for its third European EV manufacturing plant, following ongoing projects in Hungary and Turkey.
  • The company aims to strengthen its presence in Europe to compete with local automakers and mitigate EU tariffs on China-made EVs.
  • A decision on the German plant is expected within two years, with factors like energy costs, labor productivity, and political relations influencing the outcome.
  • BYD's European sales are projected to double in 2025, with a long-term target of nearly 400,000 units annually by 2029.
  • The expansion aligns with BYD's strategy to build local brand recognition while adhering to Beijing's directive to avoid investment in countries that supported EU tariffs.