The construction of the BYD factory in Hungary is taking shape. The project will soon come to fruition and the first electric cars from the Chinese manufacturer could roll off the manufacturing lines as early as 2027.
BYD electric cars manufactured in Europe from 2027
BYD sees a big growth opportunity in Europe. The Chinese manufacturer, the world’s leading electric brand, is already delivering a few models to the Old Continent. With its future factory in Hungary, BYD hopes to seriously conquer the European market. The group’s leaders, in the presence of boss Wang Chuanfu, signed on Tuesday January 30, 2024 a “ preliminary agreement » to formalize the construction of this factory in Szeged, in the south-east of Hungary.
In an official press release, the brand specifies that “ construction of the factory will be done in stages. The factory will be open and operational within three years, producing a full range of eco-friendly BYD models “. This is a great operation for Hungary. This automobile production site will create thousands of jobs. France had also tried to seduce the Chinese giant to encourage it to set up its factory on its soil. In vain.
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Hungary, a welcoming land for Chinese manufacturers
With BYD, Hungary will become a real hub for the automobile industry. The country will notably be the second producer of batteries for electric vehicles in Europe, just behind Germany. Indeed, in addition to BYD, the Chinese CATL also plans to set up in Viktor Orbán’s country. The Hungarian Prime Minister has always looked east, hoping to seduce Asian industrialists.
A strategy that is now paying off. With this future factory on European territory, BYD is trying to find a solution to circumvent possible trade barriers that the European Commission could establish. Its president, Ursula von der Leyen, announced at the end of the summer that she wanted to investigate Chinese manufacturers. There could be question of the introduction of a tax.
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