Having already announced the construction of a factory in Hungary by the end of the year, BYD may be considering opening a new factory in its bid to conquer the European market. Or even two. Stella Li, Executive Vice President of BYD Company Limited and Chairman of BYD Europe, said this at an event at the Chinese company's headquarters in Shenzhen during the week of the Beijing Motor Show:
"It could be Italy, but also Spain, France or Germany. We'll see. It's true that production in Europe costs more energy and labor, but locating in an area and investing there is an advantage for the perception of the brand. Because producing there means creating jobs and actively contributing to economic and social life."
BYD is experiencing a period of great growth worldwide through the production of electric cars and plug-in hybrids. Three or four new factories are expected by the end of the year, one of which has already been announced in Mexico. In addition to the BYD brand, which includes the Seal, Seal U, Dolphin and Atto 3 for the general market, the manufacturer is launching models under the premium and luxury brands Denza, a joint venture with Daimler, Fangcheng Bao and YangWang.
But Stella Li believes that much of continental Europe is not yet ready to switch to electric cars. For this reason, BYD is developing its DMI plug-in technology, in which the electric motor is powered by a battery that is charged by an internal combustion engine. The powertrain will be on board the Seal U SUV in the next few weeks. According to BYD, it is an ideal bridging solution for a market where electromobility has yet to really take off. In this way, Li said, consumers can have their first "electric experiences" without any constraints or fears.
Stella Li has also confirmed that the compact electric car for the European market is on its way, but it won't be the version we've already seen, but rather a new iteration.
Source: Motor1
