Chinese automaker BYD is in negotiations with French authorities on establishing a factory in France. Spain, Germany, and other European countries are also wooing BYD.
BYD has confirmed the intention to build a passenger vehicle factory in Europe and is searching for suitable locations.
The news indicates that BYD plans to build its own factory rather than acquire existing facilities. The company aims to start mass production in Europe by 2025 and is expected to finalize factory plans this year.
BYD EVs are already doing well in several European countries with plans to expand their product lineup.
BYD is also addressing the demand for sea transportation due to increased overseas sales. The company hopes to sell around 800,000 vehicles in Europe by 2030, 10 percent of the market.