BYD, the renowned Chinese manufacturer of New Energy Vehicles (NEVs), has announced its plans to potentially establish a passenger vehicle plant in Europe. The company is currently evaluating the feasibility of this project and actively searching for a suitable location for the facility.
BYD will also construct a Vehicle Plant in Thailand
Rumors have been circulating that BYD is engaged in discussions with French authorities to establish a manufacturing plant in the country. These reports align with BYD’s strategy of expanding its presence in international markets, as its NEV models continue to gain popularity overseas.
One significant milestone for BYD in Europe was the agreement signed with German car rental company Sixt in October last year. Sixt committed to purchasing 100,000 electric vehicles from BYD by 2028, showcasing the increasing demand for NEVs in the region.
BYD’s international expansion efforts also include the construction of its first overseas passenger vehicle plant in Thailand. The facility, situated in the coastal province of Rayong, is set to commence vehicle production in 2024 with an annual capacity of 150,000 units. This plant will serve as a crucial hub for BYD’s NEV production and sales not only in Thailand but also in other neighbouring countries within the ASEAN region.
As the leading NEV manufacturer in China, BYD has witnessed impressive growth in recent years. In the first four months of this year alone, the company delivered a staggering 762,371 vehicles, reflecting a remarkable year-on-year increase of 91.83 percent.
The potential establishment of a passenger vehicle plant in Europe demonstrates BYD’s commitment to expanding its global footprint and meeting the growing demand for NEVs. With its successful track record and increasing popularity, BYD is well-positioned to capitalize on the flourishing European NEV market. The company recently showcased a wide range of vehicles at the Barcelona International Motor Show. new As BYD continues to explore new international opportunities, the company’s innovative and eco-friendly vehicles are set to transform the global automotive landscape.
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(Via)
