BYD (HKG:1211, SHE:002594) is looking to grow its sales network in Europe by the end of 2026 using its "long-term localization strategy," Reuters reported Monday, citing the EV giant's Europe regional managing director Maria Grazia Davino.

"By the end of 2025, we will be present with 1,000 points of sale in Europe, and next year we're going to double (that)," Reuters quoted Davino as saying.

BYD will have to leverage proximity with its European clients, the report said.

The EV manufacturer has a presence in 29 markets. It will open its first plant in Hungary, according to Reuters, citing Davino.

BYD is looking to set up another factory in Turkey and is mulling setting up a third facility, with Spain as a top choice, the report said.

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