The Chinese electric car giant BYD brings a pace at the expansion and relies on Austria Staal: for his first European car factory in Hungarian Szed, the world market leader brings the domestic steel company Voltalpine on board as a top supplier.
From the autumn 2025 the series production is planned to start in the new mega factory in Hungary and the foot alpine will offer high-quality tons of steel for body and outer plates. Byd Vice President Stella Li and Voltalpine CEO Herbert Eibensteiner sealed the deal in Vienna on Tuesday. “We came to Europe to stay – and to produce here,” Li emphasizes, who has a goal: “In the next five years, consumers will be seen as a European manufacturer.”
For BYD (“Build your Dreams”), the partnership is a crucial step in the European strategy. The group not only wants to sell cars, but also produce locally – with regional supply chains. “Every local supplier is another important step,” said Li. The foot alpine prevailed thanks to the top technology, short delivery routes and the production of green steel. This order is the starting signal “for long -term cooperation,” says Eibensteiner. According to the lest boss, there is still a lot of potential for further collaboration with BYD, because: “Our products are represented in almost all car assemblies from the body to the ride to safety-relevant parts.”
BYD is building Europe-Hub in Budapest-1000 showrooms until the end of 2025
But the factory in Szeged is only part of the big offensive: BYD is building its European headquarters in Budapest, plus a tailor-made research and development center. By the end of 2025, the group wants to be represented in 29 European countries – with a huge sales network of more than 1000 exhibition rooms.
In Austria, BYD is already the market leader for private e-car purchases and came to a market share of around 15 percent in the 1st quarter of this year. In general, the company comes to 2.5 percent for new car registrations in this country.
Austria will be a pilot market for groundbreaking V2H technology
BYD also makes Austria a test field for its vehicle-to-home (V2H) technology and a concept that makes electric cars in mobile electricity storage for private households. With a bidirectional store, owners can temporarily store their self -produced solar energy and use it if necessary.
The reason for the election of Austria? The expansion of the photovoltaic systems is greatly accelerated, many households use solar energy. The interest of the customer is great: domestic BYD -Retailers report that half of the showroom visitors ask when the V2H function will be available to maximize their own power supply and to lower their energy costs.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
