BYD seeks European factory for EV expansion
Chinese electric car manufacturer BYD is aiming to expand its presence in European markets by acquiring a ready-made factory in Southern Europe, preferably in Spain, as part of its strategy to increase production and reduce costs. This move comes alongside plans to establish its second factory in Europe in Hungary, following the postponement of the Turkey plant project. BYD has seen significant sales growth in Europe, with a 270% increase last year, surpassing 188,000 vehicles. The company emphasizes the importance of local manufacturing to avoid tariffs.
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