The Italian Government Is Trying To Bring In BYD To Attract Investment In Automotive Manufacturers

BYD YangWang U8. (Doc. BYD Auto)

JAKARTA - BYD, a four-wheeled vehicle manufacturer from China, is currently in the wind in the electric vehicle segment globally. In fact, the Shenzen-based brand managed to capture the top position of Tesla's EV sales at the end of 2023.

Not only that, BUT BYD also intends to expand its market, especially in the European region by introducing YangWang U8 and Seal U at the Geneva International Motor Show (GIMS) 2024.

Furthermore, this manufacturer has also been contacted by the Italian government. This was done by the authority in an effort to attract other producers to the country of pizza, apart from Stellantis.

"We have some contact to discuss about it," said Michael Shu, Managing Director of BYD Europe, quoted from Bloomberg and rewritten by Automotive News, Thursday, February 29.

In fact, the manufacturer is also considering presenting a second factory in Europe. However, it all depends on the sales trend that is currently making very good progress.

However, it is too early to reveal when and whether a second factory construction decision will be taken. Previously, BYD had announced the construction of its first factory network on the blue continent, to be precise in Hungary last December to accelerate sales in this region.

"We want to study it as much as possible, everything we do is for localization," added Shu.

Italy's Prime Minister, Giorgia Meloni, has plans to withdraw the new car giants to Italy after Stellantis signaled that they might move some of its production to lower-cost countries.

In line with Meloni, Italian Industry Minister, Alberto Urso, said that his party supports the arrival of the second producer and calls it a project that has been working on for months through talks with foreign partners.