**BYD Partners with voestalpine for Steel Supply in European Expansion Push**
Chinese automaker BYD has secured a key supply agreement with Austrian steel and technology group voestalpine to support its new passenger-car factory in Hungary. The deal, confirmed by BYD Executive Vice President Stella Li and voestalpine CEO Herbert Eibensteiner, covers high-quality sheet steel, reinforcing BYD’s commitment to localizing production in Europe. The partnership highlights BYD’s strategy to strengthen its European footprint, with the Szeged facility playing a central role in its expansion. The company cited voestalpine’s proximity to Hungary and its reputation for premium steel as decisive factors in the collaboration.
**BYD’s Long-Term Vision for Europe**
BYD is rapidly expanding its European operations, with plans to sell vehicles in 29 countries and establish over 1,000 retail stores by 2025. The company has also announced a new European headquarters and an R&D center in Budapest, signaling its long-term commitment to the region. Stella Li emphasized that BYD aims to be perceived as a European manufacturer within five years, with local suppliers like voestalpine playing a crucial role in achieving this goal. The Austrian steelmaker, known for its innovation and decarbonization efforts, will supply flat steel for car bodies, marking the beginning of what both companies hope will be a lasting partnership.
**Austria Chosen for V2H Technology Pilot**
In addition to its manufacturing push, BYD has selected Austria as the EU pilot market for its Vehicle-to-Home (V2H) technology, which allows electric cars to supply power to households. The initiative leverages Austria’s high solar energy adoption, with over half of households using solar panels. BYD dealerships report strong consumer interest in V2H, as customers seek ways to optimize solar efficiency and reduce energy costs. This pilot underscores BYD’s broader strategy to integrate sustainable energy solutions into its European market approach, further solidifying its presence in the region.
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