BYD is the car brand that in China sold more electric cars in 2023, outpacing both domestic competition in the Chinese market and an international rival such as Tesla. After dominated at homehas decided that the time has come expand choosing the European market.
Therefore, BYD needs factories outside China so as not to support continuous intercontinental shipments. His plan is precisely to build one factory in Europe and his choice fell onHungary.
The car manufacturer is focusing everything on electric and wants to free the world from internal combustion cars, so, if you also share the point of view, we advise you to consult our list on which electric car to buy.
BYD’s CEO for the European market, Michael Shurevealed that he is studying the European market both from the point of view of consumers both from the point of view of legislationbecause they are two very different aspects compared to the Chinese market.
Furthermore, he stated that production in Hungary will begin before 2026 and that the factory will produce 150,000 vehicles per year and will be able to double productionif the need arose.
The immediate goal is to reach the 5% of market shares of electric cars in Europe, but to cross this finish line it doesn’t want to wait for the construction of the Hungarian factory: in fact, this year it wants to start selling the Seal U, an electric SUV rival of the Volkswagen ID.4.
Michael Shu further explained the motto of the operation: “In Europe for Europe“, because, according to BYD, having a factory on the European continent will allow us to have… faster and more timely shipments and, in addition, it will bring the brand closer to consumers, so as not to be perceived as a Chinese company doing business in Europe, but as a truly European brand.
