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

BYD signed a land pre-purchase settlement with the Szeged Municipal Authorities in Hungary for a passenger automobile manufacturing unit on January 30, 2024. It marks a big milestone in BYD’s European growth. This occasion was attended by key figures, together with Péter Szijjártó, Minister of Overseas Affairs and Commerce of Hungary; László Botka, Mayor of Szeged; Gong Tao, Chinese language Ambassador to Hungary; and Wang Chuanfu, Chairman and President of BYD. This symbolizes an necessary growth for BYD’s European crops.

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Throughout the ceremony, Minister Szijjártó highlighted the mission as one of many largest and most vital investments in Hungary’s historical past. He emphasised that the development of BYD’s first European NEV passenger automobile manufacturing unit in Hungary is not going to solely strengthen the nation’s financial standing however may also solidify its basis for long-term financial development and improve its place within the international electrical automobile transition. Each central and native Hungarian governments pledged complete assist to facilitate the mission’s swift operational graduation.

Wang Chuanfu acknowledged BYD’s dedication to transferring its superior know-how and extremely automated manufacturing traces to Hungary, supporting the native automotive business’s transition to electrification. BYD goals to speed up the event of merchandise with European localized model attributes by way of localized manufacturing, fostering nearer industrial exchanges and complementary cooperation with Europe. This initiative is a part of a broader effort to drive the business’s inexperienced and low-carbon transformation and promote international sustainable growth.

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In December of the earlier 12 months, BYD introduced its plans to determine a brand new power passenger automobile manufacturing base in Szeged, Hungary. It grew to become the primary Chinese language automotive enterprise to construct a passenger automobile manufacturing unit within the European Union. Slated for completion and operation inside three years, the manufacturing unit will concentrate on producing passenger automobile fashions on the market in Europe, creating hundreds of native jobs and facilitating Hungary’s transition to a inexperienced economic system.

Hungary, positioned within the coronary heart of Europe, has a wealthy historical past in automotive business growth, boasting superior infrastructure and a mature industrial base. As the worldwide automotive business undergoes transformation, BYD has been steadily cultivating its presence in Hungary. Seven years in the past, BYD constructed its first European pure electrical bus manufacturing unit within the nation, and now it’s set to assemble a brand new power passenger automobile manufacturing unit. BYD is dedicated to increasing and deepening its localization tasks in Hungary, aiming to propel the European automotive business’s inexperienced transformation in alignment with its imaginative and prescient of decreasing the Earth’s temperature by 1°C.

At present, BYD has deliberate 14 EV manufacturing bases globally, together with 9 whole-vehicle factories in China. Moreover, BYD has established 5 EV factories in Uzbekistan, Thailand, Brazil, Hungary, and Indonesia, showcasing its strategic strategy to international growth and localization in key markets all over the world.

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Supply: BYD