Source: AFP
Chinese electric vehicle giant BYD remains committed to building a second factory in Europe and will launch hybrid cars as the electric vehicle market slows, a group executive told AFP.
Stella Li, vice president for Europe and the Americas, also rejected a European Union investigation that could lead to tariffs on Chinese electric vehicles.
“When your competition is worried about you, that means you’re very good,” Lee said in an interview Thursday at the Top Marques auto show in Monaco.
BYD’s first factory in Europe, in Hungary, will start production by the end of next year, Li said.
The company is still studying where it can build a new one and “when the time is right we will invest in a second facility,” he said.
With EV sales falling in several EU countries, BYD is launching plug-in hybrid vehicles (PHEVs) such as the Seal U DM-i, which was unveiled at the Monaco event.
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Such cars have an internal combustion engine and a medium-sized electric battery that can be plugged in for charging.
For car buyers, PHEVs are “the first step to enjoy the technology,” Li said.
BYD sold 1.5 million PHEVs last year, accounting for half of its global sales.
Critics say PHEVs are heavy and still use too much gas, producing emissions harmful to the planet when not charged.
Li said such cars may be more attractive to consumers who are concerned about not having enough charging stations and are “anxious” about the range of electric cars.
“Very competitive”
The European Commission angered China last year by opening an investigation into subsidies for Chinese electric cars, with growing expectations that the EU will impose import duties in response.
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![](https://images.yen.com.gh/images/1264d9a419723484.jpg?impolicy=cropped-image&imwidth=256)
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The EU has until July 4 to order a temporary increase in tariffs on Chinese electric vehicles (EVs) — currently at 10 percent — with expectations that it could make its move sometime in June.
“If I’m a smart consumer, I’ll think it’s a good image. It means that Chinese cars have good quality and are very competitive, accessible,” Li said.
“We disagree on the charges” on the subsidies, he said, adding that tariffs on Chinese cars would “hurt European consumers” by limiting their access to “affordable technology”.
Lee added: “We will continue to invest in Europe and build on the success here.”
Source: AFP