BYD will massively expand its European workforce and is preparing the group’s first factory in Hungary

BYD intends to increase its European workforce to more than 40,000 employees by 2030, as part of its strategy to transform from a vehicle exporter into a major automaker on the European market. The announcement was made on Monday by Stella Li, the company’s executive vice president, on the sidelines of the Paris Motor Show.

BYD is currently approaching the threshold of 10,000 employees on the continent, and the company expects to surpass it soon. Recruitment will target both the automotive industry and other sectors, including employees laid off by European manufacturers.

The Chinese group is in the final stage of preparations for its first European factory, which is being built in Hungary. Series production is scheduled to begin in the fourth quarter. BYD will subsequently assess additional production facilities, with France and Spain among the locations under consideration.

The company’s plans come as China and the European Union discuss moderating hybrid vehicle exports to the bloc. BYD is still assessing the implications of a possible agreement, in the absence of complete details.

In the first eight months of the year, BYD sold 1.162 million vehicles outside China, 86% more than in the same period a year earlier, and 1.505 million on the Chinese market.