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Investing.com -- Chinese electric vehicle (EV) giant BYD (SZ:002594) is contemplating the construction of a third plant in Europe, according to the company’s executive vice-president Stella Li. The decision on whether to proceed with this project is expected to be made within the next one and a half to two years.
The information was revealed in an interview with German publication Automobilwoche, which was published on Monday. However, a spokesperson for BYD has stated that these plans are purely speculative at this stage and any concrete decision would only be made in the distant future. The spokesperson did not reveal any potential locations for the new plant.
BYD, which is the world’s largest EV manufacturer but primarily sells its products in China, is currently in the process of constructing two other plants in Europe. One is located in Hungary and the other in Turkey. Once completed, these two facilities will have the combined capacity to produce up to 500,000 cars annually.
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