BYD looking to take over existing factory for second European EV plant, executive says

BYD looking to take over existing factory for second European EV plant, executive says BERLIN, June 10 : Chinese electric vehicle maker BYD is looking to take over an existing factory in southern Europe for its second assembly plant on the continent, with Spain among the countries on its shortlist, a top executive said on Wednesday. "We would prefer to take over an existing plant," executive vice president Stella Li told reporters in Berlin during the European launch of the Dolphin G, a small electric car. She did not say which other European countries are on BYD's shortlist, or when a decision on a location was expected. Li told Reuters this week that the world's largest EV maker's top priority is starting production at its first European plant in Hungary in the fourth quarter - about a year later than planned. Meanwhile, the automaker has put a planned plant in Turkey on hold. BYD's sales in Europe grew 270 per cent last year to almost 188,000 vehicles, and more than doubled this year to May to more than 100,000 units. Building EVs in Europe would help BYD avoid European Union tariffs on Chinese-made electric cars. Europe's auto industry has been plagued for years by excess capacity, especially in western Europe, where labour and energy costs are higher. Stellantis has been particularly vocal about pursuing deals to lease space in its underutilised European factories to Chinese automakers including Leapmotor and Dongfeng. Alfredo Altavilla, a senior advisor to BYD in Europe, told Reuters Chinese automakers are scouting existing factories in Europe because the EU's proposed 'Made in Europe' rules for minimum local content in cars would take effect before entirely new plants could start production. "There is no time to start a greenfield plant today," Altavilla said. "All you can do is find a brownfield, take it over and refurbish."