<div id="readability-page-1"><p>Chinese EV maker BYD (BYDDY) is ready to accelerate its European expansion by taking up spare capacity in car factories across the continent and potentially buying struggling iconic brands.</p><h3>Claim 55% Off TipRanks</h3><ul><li>Unlock  hedge fund-level data  and  powerful investing tools  for smarter, sharper decisions  </li><li> Discover top-performing stock ideas and upgrade to a portfolio of market leaders with  Smart Investor Picks  </li></ul> <h2><strong>Spare Factory Capacity</strong></h2> <p>It was reported that BYD is in negotiations with Chrysler and Jeep maker Stellantis (STLA) and other European carmakers about taking over underused factories in the region. According to BYD's Executive Vice President Stella Li, it is looking for any available plant in Europe, primarily in Italy and France due to low electricity prices there.</p> <p>It is also understood that it could be on the M&amp;A hunt for iconic brands in the region, which are currently sputtering such as famous Italian luxury brand and James Bond favorite Maserati.</p> <p>&#34;We are talking to not only Stellantis, we're talking to other companies too,&#34; Li said. &#34;We are looking for any available plant in Europe because we do want to utilize this kind of spare capacity.&#34;</p> <h2><strong>China's European Push</strong></h2> <p>It is further evidence of growing Chinese involvement in European manufacturing. Earlier this month, Stellantis said it was expanding its strategic partnership with China's Leapmotor to cut EV costs in Europe.</p> <p>It said that production at its Zaragoza plant in Spain would be increased, including an all-new electric battery-powered Opel C-SUV. Separately, Stellantis said it was discussing transferring ownership of a site in Madrid to its venture with Leapmotor.</p> <p>It is clear then that other European carmakers dealing with high costs and intense competition are also open to similar Chinese deals and partnerships.</p> <p>BYD, facing huge price war pressure in China, has been steadily motoring forward in Europe. BYD's sales over the last quarter more than tripled. The company sold over 37,000 vehicles in Europe, up from just 8,500 during the same time last year. This was driven by its plug-in hybrid cars to help ease any petrol driver's fears over EV range and reliability.</p> <p>In Germany, Europe's biggest car market, BYD is planning to grow its dealership network from 27 locations to 120.</p> <h2><strong>What are the Best Electric Vehicle Stocks to Buy Now?</strong></h2> <p>We have rounded up the best electric vehicle stocks to buy now using our TipRanks comparison tool. As can be seen below, XPeng (XPEV) has the best upside of 44.74%.</p> </div>

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<p>Chinese EV maker BYD is accelerating its European expansion by negotiating to take over underused factories and potentially acquire struggling brands like Maserati. BYD's Executive VP Stella Li stated they are exploring available plants in Europe, particularly in Italy and France. This move reflects increasing Chinese involvement in European manufacturing, as other carmakers also seek partnerships to reduce costs. BYD's sales in Europe have surged, with over 37,000 vehicles sold last quarter, and plans to expand its dealership network in Germany from 27 to 120 locations.</p>

- Chinese electric vehicle maker BYD is looking to accelerate its expansion in Europe by negotiating to acquire underused factories from companies like Stellantis and possibly iconic struggling brands.  
- The company aims to utilize excess factory capacity, focusing on regions like Italy and France due to their lower electricity costs, and has seen its European sales more than triple over the last quarter.  
- BYD is also expanding its dealership network in Germany from 27 to 120 locations, reflecting its commitment to a stronger presence in the European market.

Chinese EV Maker BYD Eyeing-Up Factory Deals in European Expansion Drive