Italy Contacts BYD Chinese Electric Car Company, “Please Build A Factory”

The Italian government or Italy Contacts BYD, a leading Chinese Electric Car Company BYD, in order to attract its factory. According to reports, BYD Europe CEO Michael Schu, who attended the Geneva International Motor Show that opened at Palexpo, an international exhibition center in Geneva, Switzerland, disclosed this fact in an interview with Bloomberg News.

BYD announced in December last year that it would build its first European factory in Hungary. If Italy succeeds in attracting the plant, it will become BYD’s second factory in Europe. “We have had several contacts (with the Italian government) to discuss it,” Schuh said. “The need for a second European plant will depend on sales volumes. Currently, we are making very good progress.”

However, he said it was too early to say where the second European plant would be built. The Italian government did not deny the report. “We are in contact with several car manufacturers,” said Adolfo Urso, the Minister for Business and Italian Products, in response to a question from reporters. “Italy is the only car producing country in Europe with only one car manufacturer.”

Stellantis, a major Italian automobile manufacturer that owns the Fiat brand, has recently been in conflict with the Italian government by seeking to relocate some of its production facilities to countries with low labor costs, such as Morocco, Serbia, Poland, and Hungary.

Accordingly, the Italian government has been pushing to attract factories from other automobile manufacturers. Minister Urso also announced earlier this month that “meaningful conversations have been underway with foreign partners for several months.”

BYD, which completely stopped producing internal combustion engine vehicles in March 2022 and went ‘all in’ on producing electric and hybrid vehicles, sold 526,000 electric vehicles in the fourth quarter of last year, surpassing Tesla, which sold only 484,507 units. Ranked #1 in sales worldwide.

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