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BYD starts electric car production in Europe: revolution for the market!
BYD will start producing electric compact cars in Hungary in 2025. The Dolphin and Atto 3 models are available.
BYD starts electric car production in Europe: revolution for the market!
The Chinese automobile giant BYD will start its production of compact cars in Europe next year, as European boss Stella Li announced in an interview with the business magazine “Capital”. The first two models to be approved are the Dolphin and the Atto 3, which belong to the popular Golf class. This production facility is being built in Szeged, Hungary, and is designed to be BYD's first plant within the EU.
With this step, BYD is positioning itself strategically in Europe, as the vehicles produced in Hungary are exempt from the high EU tariffs on electric cars manufactured in China. Until now, BYD imported all of its vehicles into the EU, which significantly influenced the company's market strategy. The Atto 2 will be the third model to enter production, while a version of the Seagull small car adapted to the European market will follow later. This information was also reported by Yahoo Finance, which highlighted the importance of this move for BYD to increase its market share in the highly competitive European automotive market.
Over the past two years, BYD has taken the lead in China, the world's largest auto market. The company's shares experienced a slight increase and currently stand at 282.55 yen. This shows investors' confidence in the company's future, especially given its upcoming production plans in Europe, which could pose significant competition for established brands such as Volkswagen.
BYD's plans to build a car factory in Hungary are not only a turning point for the company itself, but could also have a significant impact on the entire automotive industry in Europe. The ability to produce locally and thus avoid high import tariffs could enormously improve BYD's market opportunities and positively influence the dynamics of the European electric car sector.
Further details on this exciting step can be found in the articles from Finance.net and Yahoo Finance be read.