financetom
Business
financetom
/
Business
/
China's BYD will consider second Europe plant in 2025, executive says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
China's BYD will consider second Europe plant in 2025, executive says
May 9, 2024 4:29 AM

LONDON (Reuters) -Chinese automaker BYD will consider building a second assembly plant in Europe in 2025, its European managing director Michael Shu said on Thursday.

Shu said BYD wanted to become a leading electric vehicle maker in Europe by 2030.

"We are confident that we could be in a leading position by 2030," he told the FT's Future of the Car conference.

BYD said last December that it would build an EV plant in Hungary, becoming the first major Chinese automaker with a production base in Europe.

BYD's Shu spoke as Chinese President Xi Jinping visited Hungary on the third and final stop on his first European tour in five years.

Hungary under right-leaning Prime Minister Viktor Orban has become an important trade and investment partner for China, in contrast with some other European Union nations.

Warm political relations have turned into investments as Chinese battery and electric vehicle makers began setting up production in Hungary.

EV battery maker CATL has been among the biggest investors with a 7.3 billion euro ($7.86 billion) battery plant in Debrecen.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Know Labs (KNW) Stock Jumps Again Monday On Bitcoin-Backed Acquisition Momentum
Know Labs (KNW) Stock Jumps Again Monday On Bitcoin-Backed Acquisition Momentum
Jun 9, 2025
Shares of Know Labs Inc ( KNW ) surged again Monday, climbing 104.2% to $3.19 in early trading, extending Friday's rally. The momentum follows news that Goldeneye 1995 LLC, led by former Ripple Chief Risk Officer Greg Kidd, will acquire a controlling stake in Know Labs ( KNW ). What To Know: On Friday, KNW soared over 200% after announcing...
Outbrain Completes Name Change to Teads
Outbrain Completes Name Change to Teads
Jun 9, 2025
11:35 AM EDT, 06/09/2025 (MT Newswires) -- Outbrain ( OB ) said Monday that it has completed its name change to Teads Holding following its acquisition of Teads in February. The merged company is set to start trading under the new TEAD ticker on Nasdaq from Tuesday, according to Outbrain ( OB ). Shares of Outbrain ( OB ) were...
Update: Amazon to Invest $20 Billion in Pennsylvania Data Centers to Support AI, Cloud Projects
Update: Amazon to Invest $20 Billion in Pennsylvania Data Centers to Support AI, Cloud Projects
Jun 9, 2025
11:34 AM EDT, 06/09/2025 (MT Newswires) -- (Updates with additional details throughout.) Amazon ( AMZN ) said Monday it plans to invest at least $20 billion in Pennsylvania to expand its data center infrastructure to back artificial intelligence and cloud computing projects. The investment is expected to create at least 1,250 new jobs, the company said. The Associated Press first...
Viemed Healthcare Approves 2-Million Share Buyback Program
Viemed Healthcare Approves 2-Million Share Buyback Program
Jun 9, 2025
11:35 AM EDT, 06/09/2025 (MT Newswires) -- Viemed Healthcare ( VMD ) said Monday its board authorized a stock buyback program for the repurchase of up to about two million common shares through June 2026. The company said the shares represent about 5% of its total issued and outstanding common shares as of March 31. Viemed shares were 1% higher...
Copyright 2023-2025 - www.financetom.com All Rights Reserved