BYD Sets Out to Build a Battery Plant in Europe

BYD, one of the largest automotive manufacturers in China, plans to build a new automotive battery production facility as part of its European expansion strategy to strengthen its presence in the continent's automotive sector.

The company aims to realize its goal of producing its electric vehicles locally in the next three years, without being affected by the European Union's customs duties, by taking important steps in terms of technology and sustainability.

This strategic decision is expected to increase BYD's market share in Europe and contribute significantly to local economies. At a time when demand for electric vehicles is growing rapidly, BYD's production for the European market will also have positive repercussions from an environmental sustainability perspective.

To support these projects, the company plans to invest in strategic countries such as Turkey and Hungary. Turkey in particular stands out with its geographical location and developing industrial infrastructure, while Hungary is an attractive option for BYD with its favorable conditions in the automotive sector.

BYD's expansion plans in Europe will not be limited to investment amounts. The company aims to increase local employment by making significant contributions to the labor force in this region. Therefore, BYD's investment could boost economic growth in the region.

Also, given the growth potential of Europe's electric vehicle market, BYD's move is expected to set an example for other players in the industry. The company's decision to manufacture in Europe will have a major impact not only on its own consumer base, but also on the development of environmentally friendly technologies.