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China’s BYD blames Brexit as it rules out UK for Europe car plant | Financial Times


pellinore

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The world’s largest seller of electric and hybrid cars has ruled out building its first European car factory in the UK because of Brexit.

China’s BYD has set out ambitious plans to dominate the region’s electric vehicle market this decade, aiming to account for one in 10 battery cars sold by 2030, and wanting to be among the top three EV brands in Europe.

But its European president Michael Shu said the UK did not even make the top 10 possible locations for its first European plant, with a shortlist of sites in Germany, France, Spain, Poland and Hungary.

“As an investor we want a country to be stable. To open a factory . . . is a decision for decades,” he told the Financial Times.

“Without Brexit, maybe. But after Brexit, we don’t understand what happened,” he added.

China’s BYD blames Brexit as it rules out UK for Europe car plant | Financial Times (archive.is)

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It looks like the Brexit Experiment may be over before even I predicted:

 (BYD).. is not the first manufacturer to have cited issues relating to Brexit in deciding not to expand business opportunities in the UK.

Tesla’s chief executive, Elon Musk, said in 2019 that the decision to leave the EU made it too risky to build a gigafactory in the UK. The company built its first European plant in Germany, where it also created a research and development base.

Other car manufacturers are also being forced to assess their business requirements amid tough global economic conditions.

China’s BYD blames Brexit as it rules out UK for first electric car plant in Europe | Automotive industry | The Guardian

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