According to reports on March 13th, BYD is gearing up to challenge European automakers with plans to double its market share by 2025.
From earlier reports, it's evident that BYD initiated sales of electric vehicles in Europe as early as 2021.
Byd's debut in Europe, Norway, saw the sale of 15,644 electric vehicles in 2023, clinching a 1.1% market share in the region.
According to Byd's European CEO, the aim is to ramp up their European EV sales to 5% before the Hungary plant goes online.
The forthcoming Byd European factory promises expedited delivery times and bolstered consumer trust.
The Hungarian facility is set to churn out 150,000 vehicles annually initially, with plans to double production to 300,000 eventually.
Earlier, Byd's maiden cargo vessel, "Explorer 1", docked in Germany carrying around 3,000 cars, poised for release across Europe, marking Byd's expansive strides in the European market.
