Byd Co: Meloni government contacts Chinese company to replace Stellantis

China's Byd Co, one of the world's largest electric battery makers, has been approached by the Italian government as part of the country's efforts to attract a second carmaker in Stellantis. “We have some contacts to discuss it,” Michael Shu, CEO of BYD Europe, said in an interview with Bloomberg at the Geneva International Motor Show. The need for a second European factory “depends on our sales: we are making excellent progress today”, added Mr. Shu. Meanwhile, the company, which overtook Tesla as the world's largest electric vehicle maker in 2023, confirmed plans to build a factory in Hungary in December.

The second factory

According to Bloomberg, Prime Minister Giorgia Meloni's government wants to attract a new major automaker to Italy precisely because Stellantis wants to move its operations to low-cost countries. Industry Minister Adolfo Urso, Bloomberg continues, said in February that the arrival of a second producer is “a project we have been working on for months with important discussions with foreign partners.” Shu is optimistic about this hypothesis, but does not go too far: “It is too early to say when and if a decision will be made regarding a second plant.” But the company could thus become another competitor to European car manufacturers: Stellantis itself, Volkswagen and Renault.

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