Chinese electric vehicle manufacturer BYD (Build Your Dreams) is set to establish its inaugural car manufacturing facility in Europe, with Hungary as the likely location. According to several media reports, sources close to BYD have confirmed the company’s internal decision regarding the new plant.
Hungary welcomes BYD
The Hungarian government has shown interest in facilitating this development. Prime Minister Viktor Orban paid a visit to BYD’s Chairman and President, Wang Chuanfu, with their discussions focused on expanding BYD’s operations into Hungary.
Official announcements awaited
While BYD is yet to disclose the final location for its European factory, it confirmed that preparations are in progress, with a formal announcement scheduled for the year-end.
Expanding electric mobility in Europe
As the demand for electric vehicles continues to grow in Europe, BYD’s decision to establish a production facility in the region marks a significant move. The carmaker, already renowned for its electric buses, will play a crucial role in the development of EVs on the continent.
Government response
Hungary’s government has yet to provide an official statement on the matter. However, should this venture proceed, it is anticipated to create new job opportunities and reinforce Hungary’s position as a growing hub for automotive manufacturing and innovation.
BYD’s expansion into Europe reflects the increasing competition and interest in the electric vehicle market, as manufacturers strive to meet the rising demand for sustainable and eco-friendly transportation options.