Tesla Rival BYD Eyes Spain for Next EV Factory as European Sales Soar
BYD is considering Spain for its third European factory, joining planned sites in Hungary and Turkey, sources say. Spain leads due to low labor costs and strong solar power, but a final decision awaits Chinese regulatory approval by late 2025. BYD’s European sales jumped 280% in early 2025, with its market share in Spain now three times Tesla’s. BYD’s U.S.-listed shares fell 1.4% after news of the possible expansion.