BYD Eyes Spain for European Expansion with Third Factory

Chinese automaker BYD considers Spain as the leading candidate for its third European plant, aimed at enhancing electric vehicle production. This aligns with Spain's goal to become an EV hub, leveraging its low manufacturing costs and clean energy. The decision awaits approval from Chinese regulators.

China's leading automaker, BYD, is contemplating Spain as the prime location for its third European automotive facility. According to sources, this move seeks to bolster its presence in the European market amidst growing competition, primarily from rivals such as Tesla.

Spain's relatively low manufacturing costs and strong clean energy infrastructure make it an attractive option for BYD, which looks to expand its European footprint. However, final approval must come from Chinese authorities, with a decision anticipated by year-end.

The automaker has seen a substantial rise in European sales, propelled by its electric and hybrid vehicles. Strong diplomatic ties between Spain and China, alongside EU pandemic relief funds, have prompted major investments in Spain's burgeoning EV sector.

(With inputs from agencies.)