The Globe and Mail reports in its Thursday edition that China's BYD, the world's largest electric-vehicle maker, is close to a decision on taking over an existing European auto plant to speed up its expansion in the region. A Reuters dispatch to The Globe quotes Alfredo Altavilla, BYD's special adviser for Europe, saying, "The call needs to be made very soon," referring to proposed EU "Made in Europe" rules aimed at boosting local manufacturing. Mr. Altavilla said Spain and France were candidates for brownfield investments, involving the acquisition of an existing factory from a traditional automaker, with a decision expected soon. "This week, we have two teams looking around in different jurisdictions, so we're close," Mr. Altavill said, questioning the competitiveness of German manufacturing sites, which are also struggling with underutilization. His comments come as established automakers seek ways to address overcapacity while investing heavily in product development and technology such as batteries and software. BYD's sales in Europe leapt 270 per cent last year to nearly 188,000 vehicles. Mr. Altavilla said plans by Volkswagen to step up cost-cuts were the "first real wake-up call" for Europe's auto industry.
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