Macron's France Targets Fourfold Increase in EV Sales by 2027; Welcomes BYD Factory Plans

France has announced plans to quadruple EV sales by 2027. The agreement, enhancing France's position against global competitors, aligns with a state visit from China, spotlighting potential collaborations with major industry players like BYD.

France's Ambitious EV Sales Forecast for 2027

According to Reuters, the French auto industry is set to sign a strategy agreement with the government on Monday. The deal aims to increase the sales of electric cars by fourfold. This coincides with the Chinese president's state visit to France.

Amid intense competition from leading producer China, French President Emmanuel Macron has established a target of two million electric or hybrid vehicles for the country's automakers to manufacture by the end of the decade.

Enhancing EV Manufacturing and Infrastructure

An interim target of 800,000 electric vehicle sales by 2027, up from 200,000 in 2022, is what the industry is expected to achieve under a new medium-term planning agreement with the government, according to a briefing from the finance ministry.

In addition, automakers plan to boost sales of electric light utility vehicles from 16,500 in 2022 to 100,000 yearly throughout the same time frame.

According to Finance Minister Bruno Le Marie, France's independence from oil producers and large auto exporters depends on the growth of its electric vehicle industry.

"The choice that has to be made is whether we want to be a country of (car) producers or a country of consumers. We have made the choice to be a big electric vehicle producer nation," Le Maire said during a news conference.

As reported by a source from the finance ministry, the government has allocated 1.5 billion euros ($1.6 billion) through various programs this year for the purchase and production of electric vehicles.

France sells about 20% of its new cars as electric vehicles, although only 12% are produced there.

The agreement between the government and industry aims for 400,000 charging points along main transport routes and in major cities by 2030 and 25,000 quick charging points by the end of 2027. This infrastructure initiative highlights France's commitment to bolstering its electric vehicle capabilities and support network.

BYD's Potential Factory in France Bolsters Economic Hopes

Building on these ambitious infrastructure goals, Finance Minister Bruno Le Maire stated on Monday that France would give BYD, a Chinese electric vehicle behemoth, a warm reception if the company decided to establish a factory in France.

"France welcomes all industrial projects. BYD and the Chinese auto industry are very welcome in France," Le Maire stated at a meeting with automotive industry executives.

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