Chinese automaker BYD has announced that all cars it sells in Europe will be manufactured directly on the continent by 2028, the company's executive vice president Stella Li said at the Munich Motor Show. The move was a response to the EU's increased tariffs on Chinese electric vehicles, ArenaEV reports.
BYD's first European plant will be in Hungary, which is scheduled to be launched later this year. The company will begin construction of another plant in Turkey in 2025. Li stressed that BYD aims to "become more European" in manufacturing over the next two to three years.
At the same time, the question remains whether the company will adapt the design and features of its cars to European tastes. Some manufacturers, such as Hyundai and KIA, have already gone down a similar path with good results, although back then they were cars with internal combustion engines. Currently, BYD often simply selects from among the models released in China and brings them to Europe with minimal changes.
The company plans to have over 1,000 retail outlets in 32 European countries by the end of 2025 and is already in talks with hundreds of local suppliers. In addition, BYD will launch its premium brand Yangwang in Europe in 2027.
Recall that BYD continues to actively strengthen its position in the European electric vehicle market. In July, the company recorded a growth of 225%.