Posted By Global Banking and Finance Review
Posted on March 3, 2025
(Reuters) - Chinese EV giant BYD is considering building a third plant in Europe and will decide in 1-1/2 to two years whether to do so, its executive vice-president Stella Li said in an interview with German publication Automobilwoche published on Monday.
A spokesperson for BYD said that the idea was purely speculative and would only come into play far into the future, declining to state what locations were under consideration.
The company, which is the largest EV producer worldwide but sells mostly in China, is already building one site in Hungary and another in Turkey which together will have the capacity to produce 500,000 cars a year.
Chinese EV makers are flocking to Europe, the second-largest market for electric cars after China, to set up local factories, as tariffs imposed last October bump up the cost of importing Chinese-made EVs into the market.
(Reporting by Victoria Waldersee; Editing by Tomasz Janowski)
