As Chinese EV giant BYD Co., Ltd BYDDF BYDDY is gearing up to expand its presence in Europe, satellite images show the company’s facility in Hungary taking shape.
What Happened: The images showcase the facility, spread over an area of 1.15 square miles, which can produce over 200,000 units a year, Business Insider reported on Wednesday.
According to the report, BYD has invested over $4.5 billion in the factory’s construction, and the company expects units to start rolling off the line sometime in the latter half of this year.
The company also has plans to set up a facility in Turkey in the near future, and is considering a third factory in Europe, the report suggests.
Why It Matters: The news comes in as BYD has recently rejigged its European strategy by hiring executives well-versed with the European market from competitors, and trying to focus on Hybrid products.
BYD has since sold over 37,000 units in the European market in Q1 2025, compared to 8,500 units last year around the same time, that’s a 335% YoY increase.
The company has also expressed plans to expand into other territories in Asia, as BYD will reportedly enter the Japanese market with an affordable EV priced at around $17,000, putting it squarely against the Japanese minicars.
Elsewhere, BYD also recently revealed its latest battery charging technology, which can provide 250 miles of range on a 5-minute charge.
Price Action: BYDDF currently trades for $48.26, according to Benzinga Pro data.
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