BYD plans to produce electric vehicles locally in Europe within three years, a move that would help it sidestep European Union tariffs on Chinese-made cars, a senior company executive said on Monday.
“We are training ourselves to be more European in production,” said Stella Li, executive vice president and BYD’s second-ranking executive, in an interview at the IAA Mobility auto show in Munich. The company is set to start output at its factory in Hungary this year and aims to begin production in Turkey in 2026.
The EU imposed tariffs on Chinese-made EVs last year, citing what it said were unfair subsidies for automakers. Asked how long it would take BYD to produce all the EVs needed to meet European demand, Li said: “Give us like two to three years.”
BYD, which initially focused on fully electric cars in Europe, added plug-in hybrids (PHEVs) to its lineup late last year. These have since gained traction with consumers. In Britain, for example, BYD’s top-selling model is a plug-in hybrid. Li said the company will launch another three to four PHEVs in the next six months and expects them to soon outsell pure EVs in the region.
“In the next one or two years, our plug-in hybrids will be dominating sales in Europe,” Li said.
Looking further ahead, BYD plans to introduce its luxury Yangwang brand in Europe in 2027.
The company sold 4.2 million vehicles globally in 2024, a tenfold increase compared to 2019, though it has recently reported several months of weaker sales and production declines in China. Li described the slowdown as a natural adjustment after rapid growth. “BYD is still the number one in China, we’re happy with the results,” she said. “Maybe in the past one or two years our share was too high as number one, so now we go back to living normal.”
Despite the softer performance at home, Li said BYD’s sales this year remain up by double digits, with growth in 2025 expected to come primarily from overseas markets.
Under new Chinese government policy, BYD Chairman Wang Chuanfu, 59, may have to retire in early 2027. Asked about succession plans, Li said: “Let’s keep it a secret.”
Source: Reuters
