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Investing.com -- Chinese electric vehicle (EV) manufacturer BYD (SZ:002594) is planning to select a location for its third European plant within the next seven to eight months. This move comes as the company prepares to launch operations at its first European facility located in Hungary.
BYD’s special advisor for Europe, Alfredo Altavilla, announced the plans on Tuesday, stating that all options are currently being considered. The company is expected to choose a location in a country that is supportive of Chinese electric cars.
In addition to these expansion plans, BYD recently showcased a range of electric vehicles that reportedly charge almost as quickly as refueling a traditional car. The company’s new battery and charging system was able to provide around 400 kilometers (249 miles) of range in just 5 minutes during tests on its new Han L sedan, according to BYD’s Chairman and founder Wang Chuanfu.
The company plans to start selling vehicles equipped with this new technology next month, following the inauguration of its initial EV factory in Hungary, which is slated to open in October.
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