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2024-01-02 00:00:00
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BYD, a leading Chinese electric vehicle manufacturer, is set to establish a new car manufacturing facility in Hungary. This move is a significant part of BYD's strategy to expand its reach in the European market.
Announced through BYD Europe's X account, the company stated, “BYD is gearing up to establish its inaugural car manufacturing plant in Szeged, Hungary. This marks a crucial step towards advancing green mobility across Europe.”
The initiative aims to boost the introduction of New Energy Vehicles (NEVs) in Europe, expand BYD's global footprint, and actively contribute to the green transformation of global energy infrastructure.
BYD has already made its mark in Hungary with an existing bus manufacturing facility. Hungary is rapidly emerging as a key hub for electric vehicle production. This is further evidenced by CATL, the Chinese battery titan, constructing a gigafactory there, and BMW's plan to build a new assembly plant for its 'Neue Klasse' in Debrecen, Hungary.
The construction of BYD’s new facility will occur in several phases and is expected to provide employment for thousands in the future. The specifics of the investment are yet to be disclosed. However, Hungarian Foreign Minister Peter Szijjarto has hailed it as “one of the most significant investments in the history of Hungary's economy.
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