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Exclusive-Spain the frontrunner for Chinese carmaker BYD’s third European plant, sources say
BYD plans to produce all cars for Europe locally within three years, with sales up 280% in 2025, as Spain offers low costs and clean energy advantages.
- Two people briefed on the matter told Reuters that BYD is considering a third European car factory in Spain to serve the European market.
- One source said Spain is favoured because of relatively low manufacturing costs and a clean energy network, while last year Spain abstained on the European Union tariff vote on Chinese-made EVs.
- The Hungary plant is under construction and set to begin production later this year, while BYD signed last year to build a Turkey NEV production base with about $1 billion investment.
- A final decision should come this year and will need approval from Chinese regulators, while sources cautioned BYD has not announced a final choice and is still considering Germany due to costs.
- Spain, Europe’s second-largest car-producing nation, has drawn major investments including a 5 billion euro plan, and deploying BYD manufacturing plus Europe's first 1-MW BYD chargers next year would boost its EV hub ambitions.
14 Articles
14 Articles
The Chinese manufacturer of electric vehicles BYD would be planning to open an assembly plant in Spain, according to sources familiar with the process consulted by Reuters, waiting for an official announcement that could be given at the end of the same year. This plant would be the third of the company in Europe and would be added to those of Hungary and Turkey, which are with the last preparations to start production between the end of this yea…
Chinese car manufacturer BYD considers Spain as its main candidate for a third car factory that supplies the European market, Reuters was told by two sources close to the company, at a time when the company seeks to increase its sales on the continent.Continue reading
China’s BYD is said to eye Spain as top pick for its third European car plant (BYDDF:OTCMKTS)
China's No. 1 automaker, BYD (BYDDF) (BYDDY), considers Spain to be its top candidate for a third car factory to serve the European market, two people briefed on the matter told Reuters.
Exclusive-Spain the frontrunner for Chinese carmaker BYD’s third European plant, sources say
(Reuters) -China's No. 1 automaker BYD considers Spain to be its top candidate for a third car factory to serve the European market, two people briefed on the matter told Reuters, as the company seeks to grow sales on the continent. A BYD assembly plan...
The Chinese manufacturer of vehicles electrified BYD would be planning to open an assembly plant in Spain, according to Reuters published this Tuesday, waiting for an official announcement that could be given later this year.
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- 40% of the sources are Center, 40% of the sources lean Right
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