BYD aims to topple Volkswagen, Tesla and Stellantis and become the largest battery-electric vehicle seller in Europe this decade, a top executive said.
European president Michael Shu said the Chinese carmaker planned a “huge investment” in factories, dealers and marketing in the region to convince motorists to buy its electric and hybrid vehicles.
“We are confident that we could be in a leading position” before the end of the decade, he told the Financial Times’ Future of the Car Summit. “We are moving to the next stage to decide a huge investment in the EU” that would be worth “billions of euros”.
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