China’s BYD says eyeing France for new auto plant
The development follows an EU-China understanding to limit hybrid vehicle exports, amid Brussels’ concerns over the bloc’s trade deficit with Beijing.
BYD, a leading electric vehicle manufacturer, is eyeing France as a potential location for one of two new factories in Europe. The Chinese company has been studying the possibility of building a factory in France, as reported by BYF television ahead of this week's Paris Auto Show. Stella Li, BYD's vice president, stated that the company is aiming to establish a second and a third factory in Europe following the opening of a site in Hungary expected by the end of this year.
China and the EU have recently reached an agreement to curtail hybrid vehicle exports, with Brussels accusing Beijing of contributing to an unsustainable trade deficit in the bloc. As part of this accord, Chinese hybrid car imports to the EU will be limited to 350,000 per year, down from the current level. Li, however, remains optimistic about China's role in the European market, noting that her company has a long-term commitment to Europe and plans to invest heavily in the region.
Li expressed a desire for France to view BYD as a French company and for locals to develop a love for the brand.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- China’s BYD says eyeing France for new auto plant freemalaysiatoday.com
