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According to the report, Chinese automaker BYD Company Limited (BYD) planned to produce electric vehicles locally in the European market by 2028. BYD currently offers 13 models in Europe, including battery electric vehicles (BEVs), which are subject to a 27% tariff and face price competition in the Chinese market. The company is implementing local production to mitigate the impact of EU tariffs.
BYD has already established factories in Turkey and Hungary. Other Chinese electric vehicle brands, such as Zhejiang Leapmotor Technology Co., Ltd. (Leapmotor) and Guangzhou Xiaopeng Motors Technology Co., Ltd. (XPeng Motors), are also actively entering the European market with affordable models, aiming to overcome price competition in the domestic market.