Etiqueta: EU

Cars News: The company is aggressively marketing in Europe, launching ad campaigns and showrooms, but faces geopolitical hurdles. EU regulators are investigating

Chinese carmaker BYD saw a surge in revenue last year, surpassing the $100 billion mark and beating rival Tesla as the electric vehicle giant accelerates its overseas expansion.That figure eclipsed the $97.7 billion in revenue last year announced previously by Tesla.

European Commission targets BYD suspecting unfair financial help from China's government for the electric-vehicle automaker's Hungary plant being constructed with imported Chinese labor.

Chinese carmaker BYD on Thursday vowed to conquer Europe with a new compact electric model and super-fast charging capability to rival continental brands.The European Union has imposed a 17-percent tariff on Chinese electric vehicles to make up for Chinese state subsidies.

The European Union Commission has reportedly opened a preliminary probe investigating whether China provided unfair subsidies to support Chinese EV...

Automotive action plan promises a ‘robust and sustainable’ sector At a glanceThe European Commission has published plans to boost the EU’s ailing automotive sectorThe plans include a delay of emissions reductions targets for cars and vansNext up for an EU action plan will be the steel sector on March 19

Wang Chuanfu founded BYD (short for Build Your Dreams) in 1995 as a company that manufactured batteries. Now, one of its multiple factories alone is capable of producing one million vehicles in a year. The expansion of BYD's production plant in Zhengzhou occupies an area larger than Segovia. In addition to the factories, new campuses have been built for the workers to live in. There are also dozens of cafeterias, sports facilities, and a couple...

The EU is investigating BYD for allegedly using unfair subsidies in its Hungary EV plant.

Investigation comes as Viktor Orbán has attracted large Chinese investments to his country