BYD beginning the preliminary phase of its production facility in Hungary, signing the Preliminary Sales and Purchase Agreement on 30th January 2024.
The highly advanced manufacturing plant will be built in Szeged, in the South East of Hungary, and will be dedicated to the production of BYD electric cars for the European market.
The Signing Ceremony took place in the esteemed presence of Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Trade; László Botka, Mayor of Szeged, along with other distinguished guests representing the Hungarian government. BYD was represented by Wang Chuanfu, Chairman and President of BYD; He Zhiqi, Senior Vice President of BYD and COO of BYD Auto, and other key BYD representatives.
The event was further honoured by the presence of Gong Tao, the Chinese Ambassador to Hungary.
Significantly, the Szeged facility will be the first passenger vehicle manufacturing facility established in Europe by a Chinese automotive company.
This marks an important milestone for the pioneering automaker as it further progresses its new energy vehicle operations in Europe.
Construction of the facility will be in stages, with the factory open and operational within three years, producing a comprehensive range of eco-friendly BYD models. The construction project, and the subsequent opening of the production facility will create thousands of jobs, boosting the local economy while also supporting local supply chains.
Many of the premium car makers and leading suppliers have chosen to build factories in Hungary. BYD already has a strong presence in Hungary, having established a high-tech eBus production facility in Komarom since 2016. This has led to BYD’s further investment in Hungary, prompting the announcement in December 2023 that it would construct an electric car manufacturing plant in Szeged bringing a new wave of technological innovation to Europe.
Source: BYD
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