According to Reuters, the first BYD electric vehicle factory in Europe will be built in Hungary and the official announcement will come later this year.
Chinese company BYD was founded in 1995. BYD is a leading technology company devoted to leveraging innovations for a better life.
With more than 27 years of expertise, BYD has established itself as an industry leader in electronics, automotives, renewable energy, and rail transit.
As a global leader with more than 30 industrial parks across 6 continents, BYD’s zero-emission solutions, focused on energy generation and storage, are expansive and widely applicable.
In the third quarter of this year, BYD sold 431.603 all-electric vehicles, up 23% from the second quarter. By comparison, Tesla delivered 435.059 electric cars worldwide, and the 3.456-unit gap between the two manufacturers is the smallest ever.
“BYD will sell more all-electric passenger cars than Tesla in the fourth quarter.,” says Taylor Ogan. He is a principal at the Snow Bull Capital hedge fund and he owns shares in both companies.
Europe’s first electric vehicle factory to be built in Hungary
When electric cars are added to hybrid models, BYD sold a total of 822.094 vehicles in the quarter ended September 30. It is another record quarter for BYD and solidifies its position as China’s best-selling car brand.
Known for its affordable cars, BYD has made progress in expanding its model range, which has helped sales explode.
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