China’s BYD says eyeing France for new auto plant

BYD, a leading electric vehicle manufacturer, is reportedly considering France as a site for one of its two upcoming factories in Europe. This development comes as the EU imposes tariffs on Chinese EV imports to safeguard its domestic automakers from the competition posed by low-cost Chinese vehicles.

Stella Li, BYD's vice president, confirmed to BFM television that the company is closely examining the possibility of establishing a factory in France. She stated that BYD is planning to open a second and a third factory in Europe after successfully opening a site in Hungary, which is expected to commence operations by the end of the year.

The EU and China recently reached an agreement to limit the export of hybrid vehicles, aiming to address the perceived unsustainable trade deficit in the European bloc. Under this arrangement, Chinese hybrid car imports to the EU will be capped at 350,000 units annually, a significant decrease from the current import level.

While Li has not yet obtained the specifics of the EU-China accord, she emphasized BYD's strong commitment to Europe, stating that the company aims to invest heavily in the region. Li expressed her desire for the French people to view BYD as a French company and foster a sense of love and admiration for the brand among the French population.