Competing with countries such as Germany, Spain and Poland, Hungary had previously received an electric bus factory investment from BYD.
BYD is building its first electric vehicle factory in Hungary.
According to Reuters, Chinese electric vehicle giant BYD has chosen Hungary for the first electric vehicle factory it plans to build in Europe.
Competing with countries such as Germany, Spain, and Poland, Hungary had previously received an electric bus factory investment from BYD. In July 2023, a decision was made to establish a facility that will probably produce battery packs for Tesla in Hungary with an investment of $ 28 million.
Hungarian Prime Minister Viktor Orban, who visited China last month, also met with BYD founder Wang Chuanfu in Shenzhen. The factory is expected to be operational in 2025, after which BYD car exports to Turkey will start with zero customs duty.