**BYD Partners with voestalpine for Steel Supply in Hungarian Factory Expansion**
Chinese automotive giant BYD has secured a key partnership with Austrian steel and technology group voestalpine to supply sheet steel for its new passenger-car factory in Szeged, Hungary. The agreement, confirmed by BYD Executive Vice President Stella Li and voestalpine CEO Herbert Eibensteiner in Vienna, strengthens BYD’s European localization strategy. The collaboration highlights BYD’s commitment to sourcing high-quality materials from regional suppliers, leveraging voestalpine’s reputation for sustainable steel production and its proximity to the Hungarian facility.
**BYD’s Long-Term European Growth Strategy**
BYD’s investment in Hungary—including its upcoming factory, a new European headquarters in Budapest, and a dedicated R&D center—underscores its ambition to establish itself as a European automaker within five years. Stella Li emphasized that BYD is not just selling cars in Europe but building a sustainable manufacturing presence. The partnership with voestalpine aligns with BYD’s decarbonization goals, as the Austrian firm is known for its eco-friendly steel solutions. Meanwhile, BYD continues to expand its European sales network, targeting over 1,000 retail stores across 29 countries by 2025.
**Innovation and Sustainability: V2H Pilot in Austria**
In another strategic move, 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 capitalizes on 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 to optimize energy efficiency and reduce costs. This pilot, managed with a local partner, reinforces BYD’s focus on sustainable mobility solutions while expanding its technological footprint in Europe.
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