BYD in talks with Hungarian government to invest billions in electric car factory

News on December 22, according to reports from many authoritative media such as the Financial Times and The Times, BYD is in final discussions with the Hungarian government to ensure that it can obtain billions of euros of investment. and plans to build a new electric vehicle factory. It is expected that the two parties may announce this agreement on Friday

According to the news, BYD (passenger car division) will establish a factory in Europe for the first time. Hungarian Prime Minister Viktor Orban said at a press conference on Thursday that the southern region of Hungary is expected to see job growth following investment by large companies.

According to three sources cited by The Times According to a person familiar with the matter, this area is located in Szeged, southern Hungary, where BYD plans to build a factory for the production of electric vehicles and batteries. BYD already has a bus manufacturing plant in Hungary.

BYD’s plan to build its first European automobile factory in Hungary was reported by Germany’s Frankfurter Allgemeine Zeitung as early as November. In October, the Hungarian Prime Minister met with BYD Chairman and President Wang Chuanfu

BYD announced its entry into the Hungarian passenger car market earlier this year and launched ATTO 3 (Yuan PLUS), Dolphin and Seal. models. The construction of the new electric vehicle factory will further strengthen BYD's position in the European market

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