Voestalpine to supply steel for BYD plant in Hungary
Chinese electric vehicle (EV) manufacturer BYD has announced that it has agreed to purchase steel from Austrian steelmaker voestalpine for its new automotive plant in Hungary, Kallanish said.
. The document was signed by Stella Lee, Executive Vice President of BYD, and Herbert Eibensteiner, CEO of voestalpine. The agreement covers the production of sheet steel in Vienna and makes voestalpine one of the first confirmed supply partners for the Szeged plant.
BYD was chosen because of its geographical proximity to the plant in Hungary, as well as the high quality and impeccable reputation of the Chinese company Austrian Steel claims.
According to the automaker, the agreement marks an important step in BYD's localization policy as the brand continues to expand its operations across Europe. "By the end of 2025, BYD will go on sale in 29 European countries, and its retail network will include more than 1,000 retail stores. In addition, BYD recently opened a new European headquarters in Budapest, as well as its first European custom-built research center, also in Hungary," the statement said.
"voestalpine's announcement as a supplier demonstrates that BYD is committed to finding high-quality, competitive local suppliers to support its stated goal of producing cars in and for Europe," it said. "Our company continues to meet with hundreds of potential suppliers in key markets, stepping up preparations for the launch of European production."
"BYD has always believed that we came to Europe to stay in Europe and produce here," says Stella Lee. "Our commitment to the European market is strong, and as we demonstrate here, it goes far beyond car sales. We are applying a long-term vision so that over the next five years consumers perceive us as a European manufacturer. I am pleased that we will be working with voestalpine, a company that has a long history of innovation and is committed to decarbonization and sustainable reduction of CO2 emissions."
"With its high-quality steel products, voestalpine is an important partner for the global automotive industry," says Eibensteiner. "We are confident that this initial order for the production of high-quality sheet steel for car bodies and exterior panels will lay the foundation for a long-term partnership with BYD."
BYD is making significant strides in Austria, becoming the number one brand in the production of electric vehicles with private batteries for customers and occupying a 15% share of this market. Its total market share in the country currently stands at 2.5%. To further support