BYD executives stated that the company will build a new factory in Europe to cope with reduced domestic financial support and rising overseas trade barriers, as well as to expand market share. Liu Xue Liang, Vice President of BYD, said in a recent interview that Europe is a very important regional market for BYD, and the company will not let tariff increases affect local consumers' choice of BYD. He reiterated that BYD is actively expanding its local business, and the new European factory will start production "soon," with the Hungarian factory planned to begin mass production in the fourth quarter of this year.