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Market Chatter: BYD to Soon Decide on Acquiring Existing Car Factory in Europe

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Chinese electric car manufacturer BYD Company (HKG:1211, SHE:002594) is close to deciding on the acquisition of an existing European automobile manufacturing plant to act as a catalyst for expansion in the region, according to a Reuters report on Wednesday, quoting BYD's special adviser for Europe, Alfredo Altavilla.

The company is looking at Spain and France for brownfield investments and acquiring ​an existing factory from a traditional automaker, Altavilla said in a Reuters conference in Frankfurt, adding that a decision was expected soon.

If the acquisition materializes, it would give BYD a second European assembly site ​after Hungary, which is due to start production in the fourth quarter, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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