Bloomberg: BYD in talks with Stellantis, others to take over European plants

• BYD wants to operate acquired European plants independently rather than through joint ventures, stating 'it's very hard to partner and ask permission from another person'
• The expansion follows BYD's soaring European sales and comes days after Stellantis announced a separate joint production plan with Chinese EV maker Leapmotor
• Stellantis declined to comment on the negotiations, while BYD has not yet responded to requests for comment

Summary

Key Development: Chinese EV giant BYD is in negotiations with Stellantis and other European automakers to acquire underused manufacturing plants across Europe, according to Bloomberg News citing BYD Executive Vice President Stella Li.

Strategic Details

• BYD is discussing potential takeovers of facilities in countries including Italy
• The company prefers full ownership rather than joint ventures, with Li stating "it's very hard to partner and ask permission from another person"
• BYD is open to partnerships for battery sales and other aspects but not manufacturing operations

Market Context

• BYD is the world's largest electric vehicle seller
• The company is aggressively expanding internationally, with soaring European sales
• This expansion follows pressure from intense price competition in the Chinese domestic market
• BYD has benefited from renewed EV interest after fuel prices spiked due to Middle East conflict

Related Developments: The talks come days after Stellantis announced plans for joint car production in Europe with China's Leapmotor, another Chinese EV manufacturer.

Company Response: Stellantis declined to comment, reiterating its policy of not addressing speculation while noting it regularly holds discussions with industry players. BYD has not yet responded to requests for comment.

Market Implications: The potential deals could reshape European automotive manufacturing, giving BYD a significant production foothold in the region while helping European automakers optimize underutilized capacity. This reflects the ongoing competitive pressure Chinese EV makers are placing on traditional European manufacturers.