BYD: all European models will be made locally by 2028

Chinese electric vehicle (EV) giant BYD will produce all electric vehicles sold in Europe locally within three years, Executive Vice President Stella Li told Reuters at Munich's IAA Mobility show, enabling the automaker to circumvent EU tariffs on Chinese-manufactured EVs. It is simultaneously expanding its European presence with plans to operate over 1,000 stores across 32 countries by year-end, more than doubling its model lineup from six to 13 vehicles over two years.