BYD, a Chinese car manufacturer, has recently announced a partnership with voestalpine, an Austrian steel and technology group, to supply its new passenger car factory in Hungary. The agreement, confirmed by BYD Executive Vice President Stella Li and voestalpine CEO Herbert Eibensteiner in Vienna, covers the supply of sheet steel and makes voestalpine one of the first confirmed supply partners for the Szeged facility.
The decision to choose voestalpine was based on its geographical proximity to the factory in Hungary and the high quality and excellent reputation of Austrian steel. This agreement marks a significant step in BYD’s localization policy as the brand expands its operations across Europe.
BYD has ambitious plans for the European market, with cars set to be sold in 29 European countries by the end of 2025 and a sales network of over 1000 retail stores. The company has also committed to establishing a new European headquarters in Budapest and its first bespoke European R&D center in Hungary.
Stella Li, Executive Vice President of BYD, emphasized the brand’s long-term commitment to Europe and its goal of being recognized as a European manufacturer within the next five years. She expressed delight in working with voestalpine, a company known for innovation and a commitment to decarbonization and sustainable CO2 reduction.
Herbert Eibensteiner, CEO of voestalpine, highlighted the company’s expertise in providing high-quality steel products to the global automotive industry. He expressed confidence in the partnership with BYD and the initial order for the production of high-quality flat steel for car bodies and outer panels.
In addition to the supply partnership, BYD has announced that Austria will serve as the European Union pilot market for the implementation of Vehicle to Home (V2H) technology in its vehicles. This project, managed in collaboration with a local partner, aims to leverage Austria’s high penetration of solar energy and strong customer demand for energy efficiency and cost reduction.
The partnership between BYD and voestalpine, along with the implementation of V2H technology in Austria, demonstrates the commitment of both companies to innovation, sustainability, and meeting the evolving needs of the European market. This collaboration sets a solid foundation for future growth and success in the automotive industry.
