BYD, the world’s largest electric vehicle manufacturer, is considering Portugal as a potential site for its third European factory, driven by strategic interest in the country’s lithium reserves and established industrial base.
Pedro Cordeiro, the Portuguese director for the Chinese brand, confirmed in an interview with Jornal ECO that direct contacts have already been made within Portugal. The company’s expansion into Europe is deemed essential for its global growth plans, necessitating local production.
BYD is already establishing two other European production facilities. One factory in the Czech Republic is set to begin operations soon, while another is under development in Turkey.
Portugal’s appeal as a third European location stems from several favorable conditions, according to Cordeiro. These include the planned construction of one of the world’s largest battery manufacturing facilities in Sines, significant national lithium reserves, and a skilled workforce.
Should the investment materialize, it would provide a substantial boost to Portugal’s electric vehicle industry and national economy. Such a move would capitalize on the global transition to sustainable mobility and renewable energy.
The Portuguese market has rapidly adapted to electric vehicles. Additionally, the presence of existing automotive factories for combustion engine vehicles indicates a robust industrial capacity ready to host a new BYD plant. The company continues its evaluation process, weighing logistical and strategic factors across various potential sites.