- BYD wants to sell more than 300,000 cars in Europe by 2026, capturing 5% of the European market.
- Currently, BYD's cars imported into the EU are subject to an additional 17% import tariff.
- BYD has plans to open a manufacturing plant in Hungary. It may open a second plant in Turkey.
BYD’s on everyone's lips now, and that’s a fact. This Chinese automaker once only made poorly-made gas-powered clones of Japanese sedans, pivoted to plug-in vehicles. Now, roughly 15 years later, BYD is one of the largest vehicle brands on the planet. Its plug-in vehicles are a stone’s throw away from catching Tesla in China, but it’s also been making huge inroads in Europe, despite pushback from EU tariffs meant to stifle Chinese brands from undercutting Europe’s own EV efforts.
