(JW Insights) Feb 8 -- BYD is more likely to set up its own factory in Europe than take over one from Ford Motor in Germany, a top executive of the Chinese car-making giant told Bloomberg News.
“We aren’t focusing on certain companies’ facilities,” BYD Executive Vice President Stella Li said in an interview with Bloomberg. She said the carmaker is more interested in building its own plants rather than acquiring other companies’ factories, Bloomberg reported on February 7.
Ford has been in talks with around 15 potential investors in its plant in Saarlouis, German, including BYD, people familiar with the matter have said. The Wall Street Journal first reported the preliminary discussions last month.
After wild success at home selling affordable electric cars to the masses, BYD is looking beyond China. It’s already announced plans to sell its vehicles across Europe, including in Germany, Sweden, Norway, the Netherlands, France, and the UK. In Asia, BYD is constructing its first EV production plant in Southeast Asia, in Thailand, and is selling to consumers in Australia, Japan, and Singapore. It also has an assembly line in India, said Bloomberg.
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