JAKARTA - The French government has confirmed that it welcomes the presence of the leading electric vehicle company, BYD, which plans to open a factory facility in the country.
"France welcomes all industrial projects. China's BYD and automotive industry are very welcome in France," said French Finance Minister Bruno Le Maire, as reported by Automotive News Europe, Wednesday, May 8.
This is not the first time this country has opened the door for foreign vehicle manufacturers to invest. Previously, France also welcomed investment from Toyota.
Le Maire has discussed the plan with Chinese President Xi Jinping during a recent state visit to Paris. This is Xi's first visit to Europe in five years, amid growing business tensions and concerns about the potential for a flood of cheap electric vehicles from China to Europe.
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Apart from France, BYD also plans to expand its presence in Europe by exploring investment opportunities in Italy. However, decisions regarding the construction of the second plant are still under consideration, depending on the development of the sales trend.
However, it is too early to reveal when and whether a second factory construction decision will be taken. BYD previously announced the construction of its first plant network in Europe, in Hungary in December, with the aim of increasing sales in the region.
The first BYD plant in Europe is scheduled to start operating in 2026 in Hungary. The facility is planned to have an initial production capacity of 150,000 units per year, which can be expanded to 300,000 units.
Apart from BYD, other Chinese companies, such as the Chery Auto, are also investing in Europe by planning the production of the Omoda car in Spain through the acquisition of a former Nissan factory in Barcelona.
Meanwhile, Leapmotor, a brand partly owned by Stellantis, is also considering the option to produce its car at a Stellantis plant in Europe.
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