The Chinese car manufacturer BYD also wants to produce in Europe in the future and has decided on a location: the first car factory on European soil will be in the southern Hungarian city of Szeged. BYD has also been represented in Austria since the beginning of the year.
It is one of the largest investments in Hungarian history, said Hungarian Foreign Minister Peter Szijjarto. He did not mention a specific investment amount. Thousands of jobs would be created, BYD explained via its WeChat channel. The company currently operates a factory in Komarom in northwestern Hungary that produces electric buses. BYD left it open how big the car factory will be. The Chinese company currently has facilities in the USA, Brazil, Japan and India. Experts assume that around 200,000 cars can be built in Hungary every year. But a factory in Europe is important for Tesla’s rival in order to be able to develop the market, analysts wrote. “On-site construction reduces logistics and customs costs – which are particularly noticeable in the lower price segment,” it said. “It is even more important that the local governments also support the company.” Hungary is also a popular location for European premium car manufacturers. From Germany, for example, Audi and Mercedes produce electric cars or engines in their Hungarian factories. BMW also wants to produce electric cars at its factory under construction in Debrecen, eastern Hungary.
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