Leading manufacturer of electric cars and hybrids BUD has announced plans to locate car factories in the European Union in the next 18 months. According to BYD’s special adviser in Europe, Alfredo Altavilla, production of cars specifically for the European market will begin in 2025. First, a plant will be opened in Hungary and then in Turkey. This will allow us to completely localize production and reduce dependence on supplies from China.
Image source: BYD
BYD strives to create a production infrastructure in Europe as quickly as possible, which will increase the company’s competitiveness and ensure stable supplies and service. Altavilla said the company sees the drastic increase in EU import duties on Chinese electric vehicles as temporary difficulties that will become a thing of the past once production starts in Europe.
BYD has set its primary goal to compete with European automakers as early as 2025. To achieve this, the company has established partnerships with world-class auto components supplier Bosch and has begun large-scale deployment of a network of service centers.
If BYD succeeds in its plans, the company has every chance to significantly displace traditional car suppliers for residents of the Old World.