BYD has announced that it will build a new energy vehicle production base in the Hungarian city of Szeged, which will be constructed in phases and is expected to create thousands of local jobs, TideWise has learned. According to the Financial Times, the plant is expected to be close to the Belgrade-Budapest railroad line, which is jointly built by China and local companies.

 

 

 

 

BYD's planned plant in Hungary has an annual capacity of around 200,000 vehicles and is expected to be completed in two to three years, the foreign media said. BYD's European CEO Michael Shu said earlier this year that it "wants to become the largest seller of electric cars in Europe."

 

 

 

In an interview with the Financial Times, Michael Shu, BYD's European CEO, said that before formally confirming the proposal to build a new-energy vehicle manufacturing base in Hungary, BYD had visited Germany, France, Spain, Poland and other countries.

 

 

 

 

Only Hungary's response is the most positive. Earlier this year, Hungarian Prime Minister Orbán Viktor met with BYD chairman and founder Wang Chuanfu. Hungary has attracted a number of investments from Chinese companies, and the good relationship of mutual trust provides strong support for BYD to build factories there.

 

 

 

Adhering to the environmental protection vision of "cooling the earth by 1°C", BYD hopes to accelerate the pace of new energy passenger cars in the European market, further deepen the globalization layout, and actively promote the green transformation of the global energy structure.