BYD executive says EU tariff pressure will be short term
BYD executive vice president Stella Li said on Monday that tariff pressure linked to an EU-China deal on imports is short-term because the company has already committed to local investment in Europe. She spoke at the Paris car show.
Chinese car maker BYD (1211) is already committed to Europe and views tariff pressure linked to an EU-China deal on imports into the bloc as short-term, the company's executive vice president Stella Li said on Monday.
"I think this kind of tariff, this pressure, is just short-term, because we already commit, invest locally," Li said while speaking at the Paris car show.
BYD has been expanding its presence in Europe, including building factories and establishing partnerships, as part of its global growth strategy. The company's investment in local production is seen as a way to mitigate the impact of any trade barriers.
Li's comments come amid ongoing trade negotiations between the European Union and China over electric vehicle imports. The EU has been considering tariffs on Chinese-made EVs to protect European manufacturers from what it views as unfair competition due to state subsidies.
BYD's commitment to local manufacturing in Europe could help the company navigate these trade tensions. The Shenzhen-based automaker has already announced plans to build a car factory in Hungary and is exploring other locations in the region.