AutosBYD Expands in Europe: France Vies for New Factory Amid EU Concerns
BYD Expands in Europe: France Vies for New Factory Amid EU Concerns
8 May 2024 16:57
BYD, China's leading car manufacturer and a globally recognized brand for its sales volume, is in the process of setting up its inaugural European factory in Hungary. However, the French government has recently extended a warm invitation to the automotive giant.
During his visit to France on May 4-5, Chinese President Xi Jinping was hosted by Emmanuel Macron. Their discussions were expected to focus on the conflict in Ukraine, Chinese investments, and bilateral trade.
Jinping proceeded to Serbia and Hungary after his time in France, continuing his European tour. As reported by Reuters, the automotive industry emerged as a critical topic during his visit.
Slated for a 2026 launch, BYD's first European factory will be located in Hungary, marking a significant milestone for the largest Chinese car maker. Yet, this development might only be the beginning. According to Reuters, French Finance Minister Bruno Le Maire expressed a keen interest in having a BYD factory on French soil, eagerly inviting Chinese investment.
Chinese car manufacturers are urgently exploring opportunities to commence vehicle production in Europe. This urgency stems from an ongoing European Union investigation into the subsidies provided by the Chinese government for electric vehicle manufacturing. These subsidies are suspected of distorting fair competition and could lead to a significant tariff hike on vehicles produced in China.
