On May 22nd, according to French newspaper “Les Echos”, the world’s second largest electric vehicle manufacturer, BYD, is discussing the possibility of building a factory in France with the French government. BYD is still exploring the most suitable location for its electric vehicle factory in Europe.
Reports indicate that BYD’s investment will become one of the largest investments in the automotive industry in Europe in the coming years. A French ministerial official confirmed to Les Echos that negotiations with BYD are still ongoing. Despite Tesla’s Elon Musk being the focus of the “Choose France” investment conference last week, with no representative from BYD in attendance, France still hopes to reach an investment and factory-building agreement with the company.
In addition, sources revealed that other European countries, such as Germany and Spain, are also trying to reach out to BYD, hoping the company will set up factories locally. BYD aims to produce the first batch of cars in Europe by 2025 at the latest, and will make a decision on the specific factory location within the year. It has been reported that BYD is more inclined to build its own factories in Europe rather than take over existing ones.
A BYD spokesperson told China Securities Journal that the company is currently evaluating the feasibility of building a passenger car factory in Europe and is looking for suitable locations.
