BYD Wants 5% EV Market Share In Europe Before Starting Local Production

BYD wants to establish itself across Europe, aiming to have a 5% share of the EV market by the time it begins building vehicles locally at its plant in Hungary. The Chinese carmaker has been selling its models in select European markets since 2021 and last year, it sold 15,644 vehicles across the continent.

” The automaker believes its plant in Hungary will play a significant role in its local expansion by providing faster deliveries and building more trust among consumers. “Our target is to become a European company and not a Chinese company doing business in Europe,” Shu said. “It will be Europe for Europe. We will only use our advanced technology from China when we start building here, but the work will be done in a local factory, using local labor and a localized supply chain.

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