Chinese electric car manufacturer BYD Company (HKG:1211, SHE:002594) is close to deciding on the acquisition of an existing European automobile manufacturing plant to act as a catalyst for expansion in the region, according to a Reuters report on Wednesday, quoting BYD's special adviser for Europe, Alfredo Altavilla.

The company is looking at Spain and France for brownfield investments and acquiring ​an existing factory from a traditional automaker, Altavilla said in a Reuters conference in Frankfurt, adding that a decision was expected soon.

If the acquisition materializes, it would give BYD a second European assembly site ​after Hungary, which is due to start production in the fourth quarter, the report said.

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