BYD starts electric car production in Europe: Revolution for the market!

BYD starts electric car production in Europe: Revolution for the market!

The Chinese automotive giant BYD will start its production of compact cars in Europe next year, as the European chief Stella Li announced in an interview with the business magazine "Capital". The first two models that are approved are the Dolphin and Atto 3, which belong to the popular Golf class. This production facility is created in Szeged, Hungary, and is the first work of BYD within the EU.

With this step, BYD is strategically positioned in Europe because the vehicles that are produced in Hungary are freed from the high EU tariffs on electric cars manufactured in China. So far, BYD imported all of its vehicles into the EU, which significantly influenced the company's market strategy. The ATTO 2 is included in production as the third model, while a version of the Seagull small car is to follow later. This information was also reported by Yahoo Finance, which underlined the importance of this measure for BYD in order to increase its market share in the highly competitive European automotive market.

In the past two years, BYD has taken over the leadership position in China, the largest car market in the world. The company's shares experienced a slight increase and currently reach 282.55 yen. This shows the trust of investors in the future of the company, especially with regard to the upcoming production plans in Europe, which could represent a considerable competition for established brands such as Volkswagen.

The BYD's plans to build a car factory in Hungary are not only a turning point for the company itself, but could also have an essential impact on the entire automotive industry in Europe. The ability to produce locally and thus avoid the high import tariffs could enormously improve the market opportunities of BYD and have a positive impact on the dynamics in the European electric car sector.

More details on this exciting step can be found in the articles of Finanzen.net and yahoo finance