Li Ke, executive vice president of BYD: the construction of an electric car factory in Europe is planned.

CTOnews.com, December 7, according to Bloomberg, Li Ke, executive vice president of BYD, said in an interview that BYD is planning to build an electric car factory in Europe and is doing due diligence.

At the end of September, BYD announced that it would launch three new energy models, Han, Tang and Yuan PLUS, to the European market, opening up multi-country delivery in Europe, and planned to take a step forward to expand the French and British markets by the end of the year.

So far, BYD passenger cars have entered Norway, the Netherlands, Sweden, Germany, France, Australia, Israel, Japan, Thailand, Malaysia, India, Brazil, Mexico and other global markets.

In September, BYD announced that it would build its first overseas passenger car factory in Thailand, with a planned annual production capacity of 150000 vehicles, which is expected to start production in 2024. Earlier, Wang Chuanfu revealed at the above-mentioned activities that BYD would also start local production in Brazil.

CTOnews.com learned that with the vigorous development of new energy vehicles, more and more new energy vehicle companies have listed Europe as a sea target. It is reported that the market environment built by European countries is favorable for new energy vehicles, and there is no obvious protection for domestic enterprises. For example, reducing tariffs and value-added tax for consumers who buy new energy vehicles can save 80-100000 yuan compared with fuel vehicles of the same class. in addition, new energy vehicles can save at least 50 per cent on tolls and enjoy road rights benefits.