With a Former Minister and a 1,500-kW Charger, BYD Accelerates Its Two-Pronged Global Offensive
Published on 07/19/2026 at 14:43 | Redaktion boerse-global.de
BYD is reinforcing its global ambitions on two fronts at once. The Chinese electric-vehicle giant has hired Peter Szijjarto, Hungary’s recently departed foreign and trade minister, to lead external relations and new business — a move that gives the manufacturer an influential voice in European corridors of power just as its charge-ready technology sets a new benchmark. Szijjarto starts on July 15 and will focus on connecting BYD politically and commercially across the continent, with the planned factory in Szeged, Hungary, at the heart of the strategy.
The Szeged plant remains on track to begin vehicle production in the fourth quarter of 2026 and is designed to become the linchpin of a European manufacturing network that reduces reliance on Chinese imports. But expansion has hit a snag elsewhere. The company has shelved its long-planned $1 billion factory in Manisa, Turkey, originally slated to reach 150,000 vehicles per year by the end of 2026. Ankara now intends to claw back the tax incentives granted to BYD, including interest on previously waived customs duties for imported cars. The retreat from Manisa makes the Hungarian bet even more critical to BYD’s European story.
On the technology side, BYD is pushing hard into performance. Its premium brand Denza began taking pre-orders in China on July 13 for the Z electric supercar, which debuts in the fourth quarter. The model showcases “Flash Charging” capable of 1,500 kilowatts. On compatible hardware, the battery jumps from 10% to 70% in just five minutes, and from 10% to 97% in around nine minutes. BYD plans to integrate this ultrafast charging across its entire battery-electric lineup — from entry-level cars to luxury flagships — by the end of next year. Meanwhile, a first glimpse of the new Tang SUV (8-series) emerged on July 17, boasting a range of more than 800 kilometres and slated for a launch in the second half of 2026.
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The product push comes as BYD’s leadership reaffirms its long-range sales targets. Chairman Wang Chuanfu told shareholders he still sees BYD overtaking Toyota as the world’s largest carmaker by 2030, a goal that would require roughly 18% annual growth for five years. Toyota sold 11.32 million vehicles in its latest fiscal year, and BYD would need sustained momentum to close that gap. The near-term picture, however, is mixed. First-half 2026 sales fell about 16% as demand softened in China, though the company expects full-year deliveries of 5 million to 5.5 million vehicles, up to 1.5 million of those outside the country. Wang pointed to a recovery in domestic new-energy vehicle penetration, which climbed from 38.6% in January to 62.9% in May, and forecast monthly unit additions of 20,000 to 30,000 in the months ahead. Overseas, he predicted that the 1.5-million target for 2026 would be surpassed, with new factories coming online in Brazil, Hungary, Thailand, Indonesia and the Middle East.
BYD already leads in battery-electric volumes. In 2025 it sold 2.26 million pure EVs, outperforming Tesla, while total vehicle sales reached 4.6 million globally, up from 4.27 million a year earlier. The U.S. passenger-car market remains effectively off-limits because of tariffs, so all overseas growth must flow from the assembly plants being built in emerging and European markets.
The stock market reflects the tension between a towering long-term vision and short-term headwinds. BYD shares closed on Friday at €9.90, down 1.75% on the day. Over the past 30 days, however, the equity has gained 9.39%, hinting at a tentative recovery from earlier lows. Even so, the stock sits 33% below its 52-week high of €14.80, set in July last year. Investors will be watching closely whether the promised acceleration in monthly sales materialises and whether the Turkish setback proves an isolated stumble or a pattern of friction in BYD’s overseas factory drive.
The company is also broadening its industrial partnerships. On July 13, BYD signed a multiyear materials agreement with Covestro, the German specialty-chemicals group. The collaboration goes beyond standard supplier arrangements and aims to jointly develop new materials for vehicles, batteries and energy storage systems. Combined with the recruitment of Szijjarto and the ramp-up of the Szeged plant, the Covestro deal signals that BYD is building not just assembly capacity, but the political relationships and technological supply chains needed to sustain a truly global footprint.
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