BYD Settles in Hungary, Europe Is at Its Feet

After leaving doubt in the air to negotiate its interests more effectively, the Chinese company BYD confirms the installation of its European factory in Hungary.

BYD became in October the world’s largest producer of rechargeable electric cars, matching Tesla in sales volume. Such a suitor cannot go unnoticed, and it would be easier to name the countries that are not eyeing it fondly, rather than those that have declared themselves ready to host a factory! To understand the power of this group, it should be kept in mind that car manufacturing is not BYD’s primary industrial activity, but a diversification of its core business, which remains battery production.

It was no surprise that the decision to establish itself in Hungary had already been made internally. It is ultimately not surprising since BYD maintains long-term excellent relations with this country and its senior leaders.

Last month, the website of Shenzhen Province, where BYD’s global headquarters is located, reported that Hungarian Prime Minister Viktor Orbán had met with BYD CEO Wang Chuanfu during a visit to the company. The Hungarian Prime Minister is no stranger to the automaker, which already has a bus factory in Komárom in northern Hungary and a battery assembly center in Fót, near Budapest.

Hungary is part of the European Union, which would allow BYD to produce and sell cars throughout the economic area without particular restrictions. Recall that the European Union has launched an anti-subsidy investigation into Chinese electric vehicles sold in Europe, which could lead to import tariffs in the future.

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