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Chinese electric-car maker BYD eyes production in Europe as it widens lead over Tesla as world’s largest EV builder
- The company confirms it is looking into building local factories in Europe, but did not reveal a timeline, locations or capacities
- The Shenzhen-based carmaker, backed by Warren Buffett’s Berkshire Hathaway, is expanding its lead over Tesla thanks to sizzling home-market sales
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Daniel Renin Shanghai
Buoyed by sizzling sales in mainland China, the world’s largest electric vehicle (EV) manufacturer BYD is looking to crack open the European market with plans to build local factories on the continent.
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“We will check the possibility of building local factories in Europe based on our business progress,” the Shenzhen-based carmaker said in a statement to the Post on Thursday, confirming a Bloomberg report, that it would build one or two plants there, citing executive vice-president Stella Li.
The company, backed by Warren Buffett’s Berkshire Hathaway, would not reveal further details about the timeline, location or capacity of any factories.
BYD dethroned Tesla as the world’s largest EV maker in the second quarter of this year and has been extending its lead over the US-based carmaker ever since, spurred by soaring sales at home, the world’s largest EV market.
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However, building a name will be a challenge in Europe, where BYD is little known.
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