Alfredo Altavilla, a prominent figure in the automotive industry and former right-hand man to Sergio Marchionne at FCA, is spearheading this initiative. As Byd's special advisor for Europe, he has organized a series of meetings scheduled to take place in Turin from February 20 to 22. This city is a historical hub for automotive production in Italy and serves as an ideal location for the company to connect with local suppliers of automotive components.
The meetings are critical for Byd as they seek to establish partnerships with Italian manufacturers to supply parts for their facilities in Hungary and Turkey. This approach is particularly significant in light of the European Union's tariffs on imported vehicles, which have recently increased from 10% to 17%. These tariffs were put in place to protect European manufacturers, with the Commission accusing Chinese automakers of benefiting from substantial government subsidies that allow them to sell vehicles at lower prices, undermining local producers.
The discussions in Turin also raise the possibility of Byd establishing a third manufacturing facility in Europe, potentially in Italy. With the existing plants in Hungary and Turkey positioned within the EU customs union, Byd’s products exported to Europe escape additional tariffs. Altavilla expressed optimism that public funds allocated for incentives could be redirected toward stimulating Italy’s industrial development.
Alessandro Grosso, in an interview, highlighted the potential for significant change once Europe fully embraces the EV market, suggesting that as demand grows, the landscape for manufacturing could shift favorably for companies like Byd. He noted that Southern Europe could emerge as an ideal location for future production.
Furthermore, the Piedmont region is actively seeking alternatives to the dominance of Stellantis, which is currently facing challenges. There is a proposal to repurpose a defunct manufacturing facility to attract a foreign automaker, preferably a Chinese one. This initiative could align well with Byd's expansion strategy, fostering an environment conducive to innovation and growth in the electric vehicle sector.
