BYD Maps Out European Expansion: Stellantis Factories, Maserati Talks, and a Formula 1 Bid
23.05.2026 - 04:11:37 | boerse-global.de
BYD is plotting a two?pronged assault on Europe that goes well beyond shipping cars from China. The world’s largest EV maker is in active negotiations to acquire idled plants from Stellantis and other manufacturers, while simultaneously exploring a high?profile entry into Formula 1 – moves that would bypass punitive EU tariffs and elevate the brand on the global stage.
Executive Vice President Stella Li confirmed that BYD has toured several European factories and is holding discussions with Stellantis and others about taking over underused production sites. Italy is on the shortlist, with full ownership preferred over joint ventures, which Li described as “more complicated.” Stellantis carries roughly 30% overcapacity in its European network; plants such as Mirafiori and Pomigliano in Italy, Eisenach in Germany, and Hordain in France have operated below breakeven for three years. That gives BYD a favourable bargaining position.
Li also singled out Maserati, Stellantis’ luxury brand, as “very interesting” – a potential acquisition that would instantly give BYD a prestigious European moniker. The strategic logic is clear: since October 2024, Brussels has slapped punitive tariffs on Chinese?built EVs, and local production would wipe out that cost disadvantage entirely.
Alongside the factory hunt, BYD is seriously weighing a Formula 1 entry. Christian Horner, the former Red Bull team principal who left the team in July 2025 and saw his non?compete expire on 8 May 2026, has held multiple meetings with Li, including one at the Cannes Film Festival. The plan would involve setting up a twelfth F1 team. A second option is a 24% stake in Alpine via a consortium, with FIA President Mohammed Ben Sulayem backing the arrival of a Chinese manufacturer. New engine regulations arriving in 2027 make the timing attractive. Li said BYD is “seriously” examining the opportunity.
Should investors sell immediately? Or is it worth buying BYD?
The international push is driven by necessity as much as ambition. In the first quarter of 2026, BYD’s net profit collapsed 55%, and domestic sales have shrunk for eight consecutive months. Full?year 2025 already marked a turning point: despite a record 4.6 million vehicle sales, net profit fell 19% to 32.6 billion yuan. Overseas markets offer fatter margins than the cut?throat Chinese market, making international expansion the most direct route back to profitability.
The export engine is already revving. In April 2026, BYD shipped 134,542 vehicles abroad, a record that represented a 70.9% year?on?year surge and accounted for roughly 43% of total monthly sales. In the UK, BYD has become the best?selling EV brand of the year so far, with 12,754 units and a market share above 7%, overtaking Tesla, Kia, and Volkswagen. In Brazil, it passed Volkswagen, General Motors, and Hyundai in overall sales in April with 14,911 vehicles. Management has lifted its 2026 export target to 1.5 million units, 50% above the roughly 1.05 million exported in 2025.
The stock, however, remains under pressure. BYD’s H?shares closed at 90.85 HKD on 21 May, just above the 52?week low of 88.50 HKD and a far cry from the mid?2025 peak above 465 HKD. Analysts are split: Goldman Sachs maintains a buy with a target of 134 HKD, seeing Q1 2026 as the trough, while BNP Paribas rates the stock “underperform” with a target of 87 HKD, citing downside earnings risk. The consensus of 25 buy ratings points to an average target of 124.37 HKD. In Frankfurt, the stock edged up 1.47% to 10.10 euros, giving a market capitalisation of roughly 92.06 billion euros and a trailing P/E of 26.26.
Shareholders are due a payout. A final dividend of 0.358 yuan per share will be put to a vote at the annual general meeting on 9 June; if approved, the ex?dividend date is 11 June, with payment scheduled for 9 August.
BYD at a turning point? This analysis reveals what investors need to know now.
Beyond the factory and F1 chatter, BYD is laying out a technology roadmap. On 28 May, the company will hold a major press conference on its “Smart Strategy,” following up on the second?generation battery tech unveiled on 5 March. Chairman Wang Chuanfu is gearing up for the next two to three years, aiming to fuse electrification with intelligent vehicle systems – software, automated driving, and new architectures. A flagship model, dubbed the “Great Han,” has been spotted in road tests; it will use the new Blade Battery and fast?charging tech, targeting a range of up to 1,000 kilometres. Pre?sales are expected in August, with a launch in September and a starting price above 250,000 yuan (roughly $36,800).
The coming weeks will test whether BYD can juggle plant takeovers, a potential F1 debut, and a domestic earnings recovery – all while keeping its sprawling ambitions in sync.
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