BYD wants to acquire an existing factory rather than build from scratch for its second European EV plant, a company executive told Reuters.

The statement confirms the Chinese automaker is already planning capacity beyond its first European production site, and signals that the expansion — when it lands — will come through a takeover of an idle or available facility rather than a multi-year greenfield construction program.

What did the executive actually say?

Speaking to Reuters, the executive said BYD is looking to take over an existing plant for its second European operation. No specific site, country, timeline, capacity figure or investment amount was disclosed in the report.

That absence matters. For European plant hunters, the difference between "we are looking" and "we have signed" is the difference between a rumor and a program. Treat this as a stated intention from a named corporate source, not a confirmed capacity plan.

Why a takeover rather than a greenfield build?

Buying an existing facility typically shortens time-to-production by two to three years compared with constructing a plant. The site comes with:

• existing halls, utilities and grid connections;
• a trained labor pool in the region;
• permits and zoning already in place.

For an automaker scaling quickly in Europe, speed is the argument. Reuters reports only the intent, not the target, so any shortlist circulating in the market remains speculation until BYD or a seller confirms a deal.

How does this fit BYD's European footprint?

BYD already operates its first European vehicle plant in Hungary, and has announced a passenger-car factory in Turkey as part of its wider European expansion. A second European site acquired through takeover would add capacity on top of those programs. Reuters's report does not state where the new plant would be located or when it would start production.

What to watch next

The milestones that will turn intention into fact: a named site and seller, a signed acquisition agreement, a stated capacity figure in units per year, and a start-of-production date. Until BYD confirms those, European site agencies and idle-plant owners from Italy to the UK will keep pitching — and the only confirmed fact on record is an executive's stated preference to buy rather than build.