China’s largest EV maker has ambitious plans to become a true player in Europe. After expanding its partnership with auto tech giant Forvia, BYD expects to rapidly gain market share in the region.
BYD is expanding its partnership with Forvia, the world’s seventh-largest auto tech supplier, as it builds its presence in Europe.
Forvia announced that it had been chosen to supply BYD’s new EV plant in Turkey. The news comes shortly after the two companies said they would work together to launch BYD’s first European plant in Hungary.
After dominating its home market, China (and the world’s largest EV market), BYD is eyeing overseas markets for growth, including Europe.
Over the past seven years, BYD and Forvia have opened seven plants in China. The two announced plans to open a new seat assembly plant in Thailand, where BYD opened its first manufacturing facility this summer.
BYD and Forvia are now expanding their partnership in Europe. After teaming up on BYD’s first plant in Hungary, Forvia’s CEO, Partick Koller, said, “Bringing our partnership with BYD to Europe is a major milestone for both our companies.”
BYD and Forvia team up to take on Europe
Their collaboration “has already resulted in significant achievements in Asia,” Koller explained, so “we are confident that this expansion will drive further innovation and growth in the European market.”
After its new Sealion 7 stole the show at the Paris Motor Show, BYD executive vice president Stella Li said she expects the new mid-size electric SUV will “extend our reach” in Europe.
The Sealion 7 is BYD’s eighth vehicle to arrive in Europe, including the popular Dolphin, Seal, and Seal U.
BYD made its European debut just two years ago at the 2022 Paris Motor Show. Responsible for overseas operations, Li recently told Germany’s Frankfurter Allgemeine Sonntagszeitung (FAS) that the company expects sales to accelerate in less than half a year.
BYD’s new plant in Turkey is expected to create 5,000 new jobs. The company is investing $1 billion in the new facility. By the end of 2026, the plant is expected to be able to build 150,000 vehicles annually.
Electrek’s Take
Despite the EU’s new tariffs on Chinese EV imports, Li said BYD would still launch new EVs at affordable prices. BYD’s leader said starting prices would be around $27,500 to $30,000 ((25,000 to 30,000 euros) in Germany, Europe’s largest auto market.
BYD also recently bought out its distributor in Germany, Heden Electric Mobility, giving it more control over prices and volume. Even with extra tariffs, some studies found BYD would still make more per EV than European automakers like Volkswagen.
With most EU automakers already facing pressure in China, BYD and others are looking overseas to drive growth.
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