BYD (HKG:1211, SHE:002594) is looking to construct a new plant in Europe and will decide in one and a half to two years to proceed, Reuters reported Monday, citing an interview by German publication Automobilwoch with executive vice president Stella Li.
However, a spokesperson for the electric vehicle manufacturer told the news agency that the idea was purely speuculative.
BYD is already constructing a factory in Hungary and another in Turkey. Both plants will have manufacturing capacity for 500,000 cars annually, Reuters said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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