BYD eyes Stellantis EU plant takeover as EV demand spikes, confirms ‘other companies too’

BYD wants to take over underutilized plants in Europe from legacy automakers to fuel its aggressive overseas expansion. Executive vice president Stella Li confirmed that BYD is holding discussions not only with Stellantis but also with “other companies too.”

BYD closes in on Stellantis’ plant in Europe for EVs

“We are talking to not only Stellantis, we’re talking to other companies too,” Li told Bloomberg during an interview at the Financial Times Future of the Car conference in London on Wednesday.

The comments come as BYD doubles down on overseas markets, including Europe, to drive growth this year. Li said the company has seen an uptick in demand for electric vehicles, as gas and oil prices have soared due to the US-Iran war.

Although April marked BYD’s eighth consecutive month of lower sales than the year prior, overseas sales continued to rise at a record pace.