BYD (1211) is negotiating with Stellantis and other European car makers to take over underused factories in the region, Bloomberg News reported on Wednesday, citing the Chinese company's top international executive.
The world’s largest seller of electric vehicles is discussing potential deals to take on plants in countries like Italy, BYD's Executive Vice President Stella Li told Bloomberg in an interview.
BYD prefers to operate the plants on its own rather than joint ventures, Li said, according to the report.
Li's comments come a few days after Stellantis and China's Leapmotor (9863) a plan to start joint car production in Europe.
BYD is benefiting from the renewed interest in EVs since fuel prices spiked in the wake of the Middle East conflict. The company has been aggressively expanding abroad, with its sales soaring in Europe, after pressure from a price war in China.
Stellantis declined to comment on a Reuters request, while BYD did not immediately respond.
Reuters
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