China’s BYD positioning itself to tap growing EV battery market in Europe

Warren Buffett-backed Chinese electric vehicle (EV) maker BYD is hiring engineers for its first overseas battery plant in Europe, said the company in a statement on Wednesday.

BYD is aiming to position itself as an EV parts supplier in Europe.

Shenzhen-based BYD also makes semiconductors for EVs; of the 426,972 vehicles it sold last year 189,689 were EVs.

“The planning of the factory is to prepare for supply to European automotive customers and to prepare for the further expansion of BYD’s overseas business,” said a BYD representative without disclosing the location or manufacturing capacity.

Chinese makers of EV batteries, including CATL, are ramping up production facilities in Europe, to tap a burgeoning EV market where auto giants including Volkswagen AG and Daimler AG are expanding their respective lineups of EVs.

Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

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