The brand is steadily expanding its sales network in Hungary.Continue reading
In a major milestone for its European expansion, BYD, the world’s leading manufacturer of new-energy vehicles (NEVs), has officially signed a supply agreement with voestalpine, Austrian steel and technology group, to support its upcoming passenger car production facility in Szeged, in southern Hungary.
The partnership, confirmed by BYD Executive Vice President Stella Li and voestalpine CEO Herbert Eibensteiner, will see the Austrian company provide sheet steel for the facility. Chosen for its geographic proximity and the renowned quality of Austrian steel, voestalpine is one of the first confirmed supply partners for the Szeged plant.
This agreement is a significant milestone in BYD’s localization strategy as the brand continues to expand its operations across Europe, reads the statement of the Chinese car manufacturer. With a sales presence planned in 29 European countries by the end of 2025, and over 1,000 retail stores, BYD is also investing in new European headquarters and its first dedicated R&D center in Budapest. The partnership with voestalpine aligns with BYD’s goal to manufacture vehicles “in Europe, for Europe” by securing high-quality local suppliers, they added.
“BYD has always been clear that we have come to Europe to stay in Europe – and to produce here,” said Stella Li. “Our commitment to the European market is strong and as we are showing here, it goes far beyond pure car sales.
We are applying a long-term vision here, with the goal of being seen by consumers, within the next five years, as a European manufacturer. Our factory in Hungary is at the heart of this process, of course, so every local supplier we announce is another significant step.
I am delighted that we will be working with voestalpine, a company that has a long history of innovation and a commitment to decarbonization and sustainable CO2 reduction.”
Voestalpine CEO Herbert Eibensteiner noted: “Our products can be found in almost all automotive assemblies – from the body and powertrain to safety-critical components.
Starting this fall, we will be supplying BYD – a Chinese technology company that manufactures in Europe – from our location in Linz.
We are confident that this initial order for the production of high-quality flat steel for car bodies and outer panels will lay the foundation for a long-term partnership.”
Via bydukmedia.com, Featured image: Hungary Today