Blogauto launch Alpine test A110
BYD wants to become one of the top three electric vehicle brands in Europe
BYD, which has been backed by US billionaire Warren Buffett since 2008, intends to enter the European Tesla market and become one of the three most popular electric car brands in Europe by the end of the decade.
The Chinese manufacturer plans to sell about 800,000 vehicles a year in Europe by 2030. He has already pre-selected sites in Germany, France, Spain, Poland and Hungary.
BYD points the finger at Brexit
“As an investor, we want the country to be stable,” said Michael Shu, European president of BYD, in an interview with the Financial Times.
“Opening a plant is a decision that takes decades. Possibly without Brexit. But after Brexit, we don’t understand what happened,” the leader continued.
BYD also pointed out that the UK doesn’t even appear in the top 10 list of places to build its first European car plant. “The UK doesn’t have a good solution,” Shu said.
Brexit: a brake on foreign investment?
This is not the first automaker to cite Brexit issues over a decision not to expand its business opportunities in the UK.
In 2019, Tesla CEO Elon Musk said the UK’s decision to leave the EU made building a giant factory across the English Channel too risky. Recall that the American company built its first European plant in Germany, a country where it also established a research base.
Meanwhile, Ford announced in February that it would cut 4,000 jobs in Europe, including 1,300 in the UK. The American manufacturer also said that by 2026 it will invest $50 billion in the production of electric vehicles, but before selling new cars, it must also decide the fate of existing units built on the basis of an internal combustion engine. prohibited.
Sources: BYD, Financial Times.
To sum up
Chinese automaker BYD has said its first car plant in mainland Europe will not be built in the UK. Primarily referring to Brexit to explain his choice.
This is not the first automaker to cite Brexit issues over a decision not to expand its business opportunities in the UK.
In 2019, Tesla CEO Elon Musk said the UK’s decision to leave the EU made building a giant factory across the English Channel too risky. Recall that the American company built its first European plant in Germany, a country where it also established a research base.