China’s BYD eyes 2nd Euro. EV plant by ’25

Chinese EV leader BYD is planning to expand further in Europe, with European managing director Michael Shu revealing intentions to potentially establish a second assembly plant in the region by 2025.

This announcement coincides with Chinese President Xi Jinping’s visit to Hungary, a nation developing close economic ties with China.

BYD’s interest in a second European plant reflects its ambitious goal of becoming a leading EV manufacturer in Europe by 2030.  Their first European EV plant, announced last December, will be located in Hungary.

Hungary, under Prime Minister Viktor Orban, has become a welcoming destination for Chinese investment, particularly in the EV sector.

BYD’s potential second plant follows major investments by CATL, another Chinese EV battery maker, which is building a €7.3 billion battery plant in Debrecen, Hungary.

This trend suggests Hungary to emerge as a key hub for Chinese EV production in Europe. With BYD exploring further expansion and other Chinese companies potentially following suit.