On January 30, BYD officially signed a land pre-purchase agreement for a passenger car plant in Hungary. As early as December last year, BYD announced the construction of a new energy passenger car production base in Szeged, Hungary, and now officially cooperates, becoming the first Chinese automobile company to build a passenger car factory in the European Union.
Foreign Minister Szijártó said that this is one of the largest and most important investment projects in the history of Hungary to promote the transition to electric vehicles in Hungary. Hungarian Prime Minister Viktor's political adviser also tweeted that BYD would invest billions of dollars in Hungary to build its first European factory and provide thousands of valuable jobs for Hungary.
The cooperation of this project has been highly valued by Hungary, and the Minister of Foreign Affairs and Foreign Trade of Hungary, the Mayor of Szeged City, Hungary and other leaders attended the signing agreement.
The new plant is planned to be built and put into operation within three years, mainly for passenger car models sold in the European market, using the world's leading process equipment and highly automated production equipment. By creating products with European localized brand attributes, BYD will accelerate the pace of development in Europe.
Hungary is strategically located in the heart of the European continent. Hungary has always maintained friendly economic and trade cooperation relations and a rational foreign policy with China, which also provides a good foundation for cooperation between BYD and Hungary in the field of new energy vehicles.
Since BYD announced its "Passenger Car Overseas Plan" in 2021, it has spread to more than 70 countries and regions around the world. In the European market, BYD has also landed in Norway, Germany, the United Kingdom, France, Italy, Spain and other places. The construction of a factory in Hungary further deepens BYD's global layout.