BYD to Open it's First European Electric Car Plant & Centre

The prime minister of Hungary, Viktor Orban-led government made a significant announcement on Thursday. According to the released statement, the World’s largest electric car manufacturer, BYD will open a European Centre in Hungary. This new opening is set to create 2,000 new job opportunities. This move by the car manufacturing giant is encouraged by Orban, through tax breaks and government-supported infrastructure projects.

In addition to this, BYD has planned to open a ‘European corporate and development Centre’ in Budapest. The company will be investing an amount of 100 billion forints in the new Budapest Centre. 

In recent years, Hungary has seen a significant increase in Chinese projects related to the manufacturing of battery and electric vehicles (EVs). The central European country has seen 9.6 million people being attracted to these Chinese projects.

 BYD is already established in the European center. In 2016, the company opened its first European plant in northwest Hungary’s Komaram city. This particular factory assembles electric buses. Now the company’s Hungary-established plant will be manufacturing electric cars. This plant will be BYD’s first electrical car production plant. According to a few sources of the company, the plant will be set by the end of 2025. BYD CEO Wang Chuanfu said, “Another step in the friendly cooperation between the two parties.”