BYD Seeks to Acquire Existing European Factory for Second EV Plant
Chinese EV maker BYD is looking to take over an existing factory in southern Europe, with Spain among its target countries, according to an executive statement in Berlin. The company is prioritizing the launch of its first European plant in Hungary in Q4 while putting its Turkey expansion on hold. Acquiring existing facilities allows BYD to avoid EU tariffs and comply with upcoming 'Made in Europe' local content rules faster than building new plants.
BYD, the world's largest EV maker, is actively seeking to acquire an existing factory in southern Europe for its second continental assembly plant, with Spain listed as a potential location. Executive Vice President Stella Li announced the preference for taking over established facilities rather than building new ones during the European launch of the Dolphin G model in Berlin. The company is focused on starting production at its first European plant in Hungary by Q4, delayed by approximately one year from original plans, while shelving a planned Turkish facility. BYD's European sales surged 270% last year to 188,000 vehicles and more than doubled through May this year to over 100,000 units. Acquiring brownfield sites allows the company to circumvent EU tariffs on Chinese-made EVs and meet upcoming 'Made in Europe' minimum local content requirements before entirely new plants could become operational. Europe's excess manufacturing capacity, particularly in western Europe, makes existing factories attractive acquisition targets for Chinese automakers.
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BYD looking to take over existing factory for second European EV plant, executive says
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