Published on 15/05/2026 - 9:12 GMT+2

China's leading electric vehicle producer BYD is negotiating with Stellantis, the parent of Jeep, and additional automakers to acquire their European factories amid its push for global growth, according to a Wednesday report from Bloomberg News.

These discussions follow Stellantis' recent surprise to investors: a €22 billion impairment charge on its electric vehicle business, attributed to overly optimistic projections for demand in zero-emission vehicles.

"We're in conversations with Stellantis as well as other firms," stated Stella Li, BYD executive overseeing international efforts, during a break at a London automotive event.

"We're seeking out any open facilities across Europe since we aim to make use of that excess production capability," she added.

BYD claimed the top spot as the global leader in EV sales in the previous year, yet its profits have dropped sharply from softening sales at home, driving a hunt for bigger opportunities abroad.

The firm is constructing a dedicated plant in Hungary's Szeged region, slated for operations starting in 2027.

Li further noted BYD's interest in acquiring faltering traditional European marques, pointing to Stellantis' upscale Maserati division as particularly appealing.

Stellantis, the Franco-Italian conglomerate behind Peugeot and Fiat among others, revealed last week plans to potentially offload a low-output site in Spain to its Chinese partner Leapmotor through their joint venture.

Two Stellantis sites in Italy are running far below full potential. The Cassino facility near Frosinone assembled only 2,916 vehicles in the opening quarter of 2026 - down 37.4 percent - operating merely five or six days monthly, per a Fim-Cisl analysis referenced in Italian media.

Turin's venerable Mirafiori works has shifted to solely manufacturing Fiat 500 hybrid and electric variants.

Europe's auto sector remains sluggish in rebounding from the COVID-19 slump, with plants averaging just 50 percent utilization.

Compounding pressures are aggressive Chinese competitors, whose superior tech progress and cost efficiencies threaten established players worldwide.

Stellantis offered no immediate response regarding BYD's overtures.