BYD Auto revealed today that it signed a land pre-purchase contract with the Szeged City Government in Hungary on January 30, for a BYD automobile factory. Authorities specified that this marks a brand-new considerable advancement in BYD’s localization procedure in Europe.
Hungary’s Minister of Foreign Affairs and Trade, Peter Szijjarto, stated, “BYD’s choice to develop its very first European brand-new energy automobile factory in Hungary is among the biggest and crucial financial investment tasks in Hungarian history. The building of the job will even more enhance Hungary’s financial position, combine the structure for long-lasting financial development, and improve Hungary’s position in the international electrical automobile improvement.”
BYD’s Chairman and President Wang Chuanfu stated that through localized production and production, BYD will speed up the development of items with European localized brand name characteristics in the future. “As the world’s biggest brand-new energy lorry business, BYD mores than happy to bring our extremely innovative innovation and extremely automated assembly line to Hungary, assisting the regional vehicle electrification improvement.”
According to the strategy, the factory will be developed and taken into operation within 3 years, primarily producing automobile designs offered in Europe. Significantly, BYD has likewise end up being the very first Chinese vehicle business to construct an automobile factory in the EU area.
In December 2023, BYD currently revealed that it would construct a brand-new energy automobile production base in Szeged, which would be integrated in stages and is anticipated to produce countless tasks in your area. Prior to this, BYD currently had a bus factory in Hungary.
BYD had currently formally went into the Hungarian automobile market in the start of 2023.
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