Photo: BYD Hungary
Eurasia
10/12/2024 15:01
"We will start the ramp-up at the end of 2025. The first two cars we produce will be the Dolphin and the Atto 3," Li told the business magazine Capital, adding that other models will follow.
A passenger car factory in Szeged, Hungary, had been previously announced and remains under construction, DPA reports.
The factory is key to BYD's push to gain market share in the European Union, as the cars made in Hungary will be exempt from EU tariffs on electric vehicles produced in China. At the moment, BYD must import all of its vehicles into the EU.
BYD has been the best-selling car brand in China - the world's largest car market - for two years. BYD's rapid rise has bruised the bottom lines of foreign automakers, like Volkswagen, which had dominated China for decades.
