BYD Will Finally Set Up in Hungary

After leaving some doubt, certainly to negotiate better terms, the Chinese company BYD is expected to set up its European factory in Hungary.

In October, BYD became the world’s largest manufacturer of rechargeable electric cars, rivaling Tesla in sales volumes. Such a contender cannot be ignored, and it might be easier to name the countries that are not showing interest rather than those that have declared their willingness to host a factory! To understand the power of this group, it is important to remember that car manufacturing is not BYD’s main industrial activity but a diversification of its core business, which remains battery production.

Our German colleagues from the Frankfurter Allgemeine Sonntagszeitung, citing anonymous sources close to the Chinese automotive giant, claim that the decision to establish in Hungary has already been made internally. Ultimately, it is not a surprise since BYD has maintained 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 met with BYD CEO Wang Chuanfu during a company visit. The Hungarian Prime Minister has had previous contact with the automaker, which already owns 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 space 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.

BYD has declined to comment on the information, stating that negotiations are still ongoing with other governments and that a decision will only be made and announced at the end of the year.

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