BYD Guns for 5% of Europe's EV Market, Opens Hungary Plant to Produce 150,000 Cars by 2026
-
BYD aims to triple its EV market share in Europe to 5% by 2025, after selling 15,644 EVs there in 2022.
-
BYD is building a plant in Hungary that will produce 150,000 EVs annually by 2026 to supply Europe with locally-made vehicles.
-
New EV models like the Seal U SUV will launch in Europe this year to compete with models like the VW ID.4.
-
The Atto 3 was BYD's top seller in Europe last year with over 12,000 sold; more affordable models like the Dolphin are also arriving.
-
BYD has cut EV prices in China by over 20% for some models as part of a "liberation battle" against gas cars to drive adoption.