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Market Chatter: BYD Targets Local Truck Production to Avoid EU Tariffs

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BYD (HKG:1211, SHE:002594) plans to expand its European manufacturing operations to include heavy-duty trucks, with its first model set to launch in the region next year, Reuters reported Monday, citing Stella Li, the automaker's head of international business.

The Chinese electric vehicle maker ultimately aims to manufacture all products it sells in Europe locally, Li said, according to the report.

Local truck production would allow the company to avoid import tariffs on the vehicles, with Li saying BYD would "become a European company" once everything is produced locally.

BYD is also expanding its passenger-vehicle manufacturing footprint in the bloc, with mass production at its new plant in Szeged, Hungary, expected to begin next year, the news outlet 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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