Chinese Automakers’ Answer to E.U. Tariffs: Build in Europe

Published On Sep 19, 2024, 5:01 AM

BYD, a leading Chinese electric vehicle manufacturer, is building its first European assembly plant in Szeged, Hungary. As it expands its operations across Europe, BYD is teaming up with distributors in 19 countries and introducing popular electric and hybrid vehicles. With the EU contemplating new tariffs on Chinese EV imports, BYD's plant is strategically timed to enhance its market presence and reduce costs associated with import tariffs.