BYD signed land agreement with Szeged for the car factory in Hungary

Reading Time: 2 minutes

News like this to your inbox or phone?

Weekly summary to your inbox

Never miss and important news

Get Instant notification once the news is published.

BYD signed a land pre-purchase agreement with the Szeged Municipal Government in Hungary for a passenger car factory on January 30, 2024. It marks a significant milestone in BYD’s European expansion. This event was attended by key figures, including Péter Szijjártó, Minister of Foreign Affairs and Trade of Hungary; László Botka, Mayor of Szeged; Gong Tao, Chinese Ambassador to Hungary; and Wang Chuanfu, Chairman and President of BYD. This symbolizes an important development for BYD’s European plants.

- Advertisement -

During the ceremony, Minister Szijjártó highlighted the project as one of the largest and most significant investments in Hungary’s history. He emphasized that the construction of BYD’s first European NEV passenger car factory in Hungary will not only strengthen the country’s economic status but will also solidify its foundation for long-term economic growth and enhance its position in the global electric vehicle transition. Both central and local Hungarian governments pledged comprehensive support to facilitate the project’s swift operational commencement.

Wang Chuanfu stated BYD’s commitment to transferring its advanced technology and highly automated production lines to Hungary, supporting the local automotive industry’s transition to electrification. BYD aims to accelerate the development of products with European localized brand attributes through localized manufacturing, fostering closer commercial exchanges and complementary cooperation with Europe. This initiative is part of a broader effort to drive the industry’s green and low-carbon transformation and promote global sustainable development.

- Advertisement -
BYD President Wang Chuanfu and his delegation took a group photo at the signing ceremony in Shenzhen

In December of the previous year, BYD announced its plans to establish a new energy passenger car production base in Szeged, Hungary. It became the first Chinese automotive enterprise to build a passenger car factory in the European Union. Slated for completion and operation within three years, the factory will focus on producing passenger car models for sale in Europe, creating thousands of local jobs and facilitating Hungary’s transition to a green economy.

Hungary, located in the heart of Europe, has a rich history in automotive industry development, boasting advanced infrastructure and a mature industrial base. As the global automotive industry undergoes transformation, BYD has been steadily cultivating its presence in Hungary. Seven years ago, BYD built its first European pure electric bus factory in the country, and now it’s set to construct a new energy passenger car factory. BYD is committed to expanding and deepening its localization projects in Hungary, aiming to propel the European automotive industry’s green transformation in alignment with its vision of reducing the Earth’s temperature by 1°C.

Currently, BYD has planned 14 EV production bases globally, including nine whole-vehicle factories in China. Additionally, BYD has established five EV factories in Uzbekistan, Thailand, Brazil, Hungary, and Indonesia, showcasing its strategic approach to global expansion and localization in key markets around the world.

- Advertisement -

Source: BYD

- Advertisement -

- Advertisement -

New Chinese EVs marketplace with the lowest prices & worldwide shipping.

- Advertisement -


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -