BYD is reportedly negotiating with Stellantis and other European car manufacturers to take over currently underutilized plants in the Old Continent. This is reported by Bloomberg News, which cites an international executive of the Chinese company: the operation, according to the information released, aims to quickly strengthen the production presence of the Chinese giant in Europe, at a time when demand for electric vehicles continues to be supported also by external economic factors.
BYD and European production
In this context, Bloomberg reports that BYD has already discussed potential agreements to acquire plants in several countries, including Italy. The strategic approach of the company was illustrated by Stella Li, executive vice president of BYD, who indicated that the tech company prefers to directly manage the plants rather than resorting to joint ventures. “It is very difficult to collaborate and ask permission from someone else. We prefer to manage everything independently,” Li said at the Financial Times Future of the Car conference in London.
Independent management of plants
According to reports, BYD claims it can still collaborate with European manufacturers on other aspects, such as battery supply or forms of commercial/industrial cooperation, but all this without getting involved in production through partnerships. Li’s statements come a few days after the announcement by Stellantis and the Chinese Leapmotor of a plan to start joint car production in Europe. Meanwhile, BYD seems to benefit from the renewed interest in electric vehicles, in a context where rising fuel prices are being felt.
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