BYD is considering buying a bus manufacturing plant in South Korea and the company has recently conducted due diligence on Zyle Daewoo Bus Commercial Vehicle's commercial vehicle plant in Ulsan, the Seoul Economic Daily reported.
The South Korean plant, which had a capacity of 7,000 buses a year, closed in June due to low productivity, the report said. BYD currently sells electric buses, trucks, and passenger cars in South Korea through local importers.
Zyle Daewoo Bus Commercial Vehicle, a manufacturer of complete vehicles and chassis for large buses, is based in Bucheon, South Korea, and was founded in 2002.
On September 22 BYD announced that it signed an order for 106 electric buses with Nobina, the largest public transport operator in Northern Europe, officially entering the Finnish market.
This is another breakthrough for BYD's European territory after Germany.
BYD says this is its first all-electric bus order in Finland and the largest all-electric bus order in the country's history.
All vehicles are expected to be delivered in the summer of 2021, with 64 of them in Helsinki and 42 in Turku, a coastal city in southwestern Finland.