[1andrew1]

First Tesla, now it's BYD! Brexit prevents another car company from considering investing in the UK. The Brexit benefits keep rolling in...for our competitors!

China’s BYD blames Brexit as it rules out UK for Europe car plant

World’s largest seller of electric and hybrid cars sets out plans to dominate region by 2030

The world’s largest seller of electric and hybrid cars has ruled out building its first European car factory in the UK because of Brexit.

China’s BYD has set out ambitious plans to dominate the region’s electric vehicle market this decade, aiming to account for one in 10 battery cars sold by 2030, and wanting to be among the top three EV brands in Europe.

But its European president Michael Shu said the UK did not even make the top 10 possible locations for its first European plant, with a shortlist of sites in Germany, France, Spain, Poland and Hungary.

“As an investor we want a country to be stable. To open a factory . . . is a decision for decades,” he told the Financial Times.

“Without Brexit, maybe. But after Brexit, we don’t understand what happened,” he added. “The UK doesn’t have a very good solution. Even on the long list we didn’t have the UK.”

The group, backed by Warren Buffett’s Berkshire Hathaway, wants to raise sales to about 800,000 models in Europe by 2030, with at least one car manufacturing facility in the region. It already makes buses in the region.

The UK has struggled to attract investment from new electric vehicle companies, with Tesla also citing Brexit for its decision to bypass Britain in favour of Germany.

Additionally, several established carmakers in the UK are facing crucial decisions over their plants this year.

https://www.ft.com/content/a38acb75-...3-d4e880748986
https://www.msn.com/en-us/news/world...it/ar-AA18wzV7
https://www.theguardian.com/business...f=upstract.com