BYD plans to achieve full local production of electric vehicles in Europe before 2028

The largest Chinese electric vehicle manufacturer BYD plans to achieve full localization of electric vehicle production in the European market within three years to avoid EU tariffs. A company executive said on Monday, September 8th, that in the short term, plug-in hybrid electric vehicles (PHEVs) will dominate its sales in Europe.

Reuters reported that Stella Li, Executive Vice President of BYD, told an interview at the Munich International Mobility Fair (IAA Mobility): "We are striving to make our production more European."

BYD is currently building a factory in Hungary, which is expected to start production this year; meanwhile, it will launch a factory in Turkey in 2026.

When asked how long it would take to achieve full local production of electric vehicles in Europe, Li said: "Probably two to three years."

Initially, BYD only sold pure electric vehicles in Europe. Last year, it announced its entry into the PHEV market, which was well-received by consumers. For example, in the UK, the best-selling model from BYD is the PHEV. Li stated that the company will launch three to four new PHEVs in Europe within the next six months and expects their sales to soon surpass those of pure electric vehicles. "In the next one or two years, our PHEVs will dominate the European market," she said.

She also revealed that BYD will introduce its luxury brand "Yangwang" to the European market in 2027.

BYD's global sales reached 4.2 million units in 2024, ten times that of 2019. However, the company experienced several months of declining sales and production in its domestic market this year. Li said that this is a normal adjustment after a long period of high growth. "BYD is still the top in China, and we are satisfied with our performance. Perhaps in the past one or two years, our market share was too high, and now it has returned to a normal state," she added. She further stated that the company's sales this year still maintained double-digit growth, and the growth in 2025 will mainly rely on markets outside China.

Original: www.toutiao.com/article/1842772388429835/

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