NRW Wooing BYD with Electromobility Masterplan for European Headquarters in Germany

The Chinese automaker Build Your Dreams (BYD) intends to set up its European headquarters in Germany, Henry Li, general manager of BYD’s auto export trade division, said in an interview with the newspaper Welt.

The company is still in the process of finding the right location near a big German airport. The decision will likely be made before the end of the year.

According to Rheinische Post, Jürgen Rüttgers, the outgoing prime minister of the state of North Rhine-Westphalia is negotiating with BYD about setting up headquarters in Cologne or Düsseldorf. Rüttgers is said to be wooing BYD with the NRW Masterplan on Electromobility, according to which NRW is to become one of the leading model regions for electromobility. In addition, he allegedly offered an investment grant.

BYD plans to enter the European market with its E6 electric car and F3DM hybrid car as of 2011. According to Mr Li, BYD wants to start selling in countries with government incentives for electric cars. As yet the place of market entry is still undecided. BYD did not give an estimates on potential sales in Europe. The company that started selling cars in 2003 is the shooting star among Chinese automakers, currently ranking number six with 415,000 cars sold. BYD aims to become number one in its home market by 2015 and global leader by 2025.

Last month BYD signed an agreement with the world’s second-biggest maker of luxury cars, Daimler AG, to develop electric vehicles in China. Both companies will invest RMB 600 million (EUR 71 million) in the equal partnership Shenzhen BYD Daimler New Technology Co. Ltd.

Source: Welt; Rheinische Post

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