BYD, the world’s leading manufacturer of new energy vehicles, initiates the preliminary phase of its state-of-the-art NEV production facility in Hungary with the signing of the Preliminary Sales and Purchase Agreement in an official ceremony held on 30th January 2024.
The highly advanced manufacturing plant will be built in Szeged, in the South East of Hungary, and will be dedicated to the production of BYD electric cars for the European market.
Significantly, the Szeged facility will be the first passenger vehicle manufacturing facility established in Europe by a Chinese automotive company. This marks an important milestone for the pioneering automaker as it further progresses its new energy vehicle operations in Europe.
Construction of the facility will be in stages, with the factory open and operational within three years, producing a comprehensive range of eco-friendly BYD models. The construction project, and the subsequent opening of the production facility will create thousands of jobs, boosting the local economy while also supporting local supply chains.
Many of the premium car makers and leading suppliers have chosen to build factories in Hungary. BYD already has a strong presence in Hungary, having established a high-tech eBus production facility in Komarom since 2016. This has led to BYD’s further investment in Hungary, prompting the announcement in December 2023 that it would construct an electric car manufacturing plant in Szeged bringing a new wave of technological innovation to Europe.
Since its passenger car debut at the Paris Motor Show in 2022, BYD has successfully established 250 stores in 19 European countries. Notably, BYD has already launched six new models (BYD TANG, BYD HAN, BYD ATTO 3, BYD DOLPHIN, BYD SEAL and BYD SEAL U) across the C to E segment, including hatchbacks, sedans and SUVs, catering for the varied requirements of European customers. In addition, two new models are planned for launch this year.
