One month earlier, a major European outlet reported that BYD, the Chinese EV giant known as Build Your Dreams, chose Hungary as the site for its continental first automobile factory. This decision stirred debate among other shortlisted regions, including Vigo and Galicia in Spain, where the automotive sector is especially advanced. Now Spain and Galicia are back in the spotlight as contenders in the race for investment and production in Europe. Jordi Cuesta, managing director of BYD Iberia, said in an interview that the company was not yet ready to announce a final choice, noting that there would be multiple facilities and that Spain remained an important candidate for related investments.
Cuesta spoke during the introduction of BYD Seal, a D-segment sedan delivering up to 530 horsepower and showcasing the brand’s latest innovations. He indicated that BYD’s European leadership would disclose which factory would be established first in Europe by the end of the year.
He added that incentive programs would be carefully weighed to determine the best overall option within the investment equation.
Spain, he explained, has long stood out as a top automotive cluster amid ongoing transformation. The Perte VEC program for Electric and Connected Vehicles is attracting investment in electrification from multiple manufacturers, turning the country into a reference point in the sector. Cuesta noted that Spain is managing Perte well, and he expressed a personal wish that BYD would position its operations near him if possible.
To date, BYD has not taken part in either the first or second Perte VEC edition, at least not in the battery segment. Time will reveal whether Stellantis Vigo will join the program in relation to the value chain it targets. Based on Cuesta’s statements, it appears that if BYD enters Perte, it would be in the third call. This perspective comes from someone already working in the industry.
Models
BYD’s influence in Galicia remains modest, but the Chinese brand is actively seeking to grow its footprint in the Spanish market. Following the Seal presentation, Cuesta asserted that BYD is the only automaker offering five fully electric models within its first year. He expressed satisfaction with completing the first phase of its activity in Spain and hinted at continued expansion next year. He urged partners and customers to expect more steps in the near term.
As Cuesta explained, the initial phase focused on establishing a commercial network. There are currently eleven official dealers, with plans to reach twenty by next year, as well as broader brand education to explain BYD’s identity. He emphasized the company’s aim to be recognized as a leader in rechargeable car production and noted ongoing efforts to raise awareness in Spain about BYD’s early market leadership.
For the upcoming period, BYD is evaluating new models and updated versions of existing models. Cuesta anticipated a busy and dynamic year ahead in 2024, driven by demand growth for electric mobility and broader adoption across public and private sectors.
Cuesta also highlighted a sense of constructive intent from public institutions to promote electric mobility. He stressed that improving network interoperability, price transparency, and the overall charging experience for customers remain crucial priorities for the sector’s advancement.
EU Investigation
Regarding the European Commission’s inquiry into alleged state aid linked to the awards granted to electric vehicle manufacturers, Cuesta said BYD would cooperate fully at every level. He emphasized that there were no issues from BYD’s side and that the company remains confident in supplying information as required by investigators.
In his view, the company maintains full confidence in the information requests it receives and remains calm as the process unfolds.
Attribution: Information compiled from BYD communications and European press briefings; corroborating statements from Europa Press and industry observers cited in related coverage.