BYD Spreads Its Wings in Europe Aiming to Build New Battery and Vehicle Manufacturing Plant in Europe
Chinese electric vehicle manufacturing giant BYD is in final talks with the Hungarian government to secure a multi-billion euro investment in a new electric car factory.
BYD is trying to build electric cars and batteries at a new factory in Szeged, in southern Hungary, reports a related publication of the Financial Times.
BYD already has bus production units in the country, but it is investing in a new factory as it seeks to make its presence felt even more in the old continent’s electric vehicle industry by the end of the decade.
The Hungarian Prime Minister Viktor Orban said at a press conference yesterday that he expects the southern Hungarian region near Szeged to “increase employment after major corporate investment”.BYD and the Hungarian government did not immediately respond to a Reuters request for comment on the FT report.
It is worth noting that BYD sold little more than 13,000 cars in Europe in November, according to data from Dataforce. The Act 3 it was the brand’s best-selling passenger model with nearly 11,000 sold.