Chinese automaker BYD to establish major hub in Hungary
Chinese brands are increasingly focusing on the European automotive market. This is evident from announcements by the BYD Corporation, which plans to open a local development centre. The official announcement was made by the president on May 15.
On Thursday, May 15, a conference was held in Budapest with the participation of BYD President Wang Chuanfu and Hungarian Prime Minister Viktor Orban. The discussion centred on the creation of a European development centre that would be located in Hungary.
Wang explained that the investment would create at least 2,000 jobs in various roles in Hungary. The BYD development centre would be responsible for sales and after-sales services, as well as testing and developing new models tailored to European preferences.
If the project proceeds, it will mark another Chinese business presence in Hungary. Since 2016, a BYD bus factory has been operating in Komarom, Hungary, and another plant, intended to produce electric cars, is currently under construction. It is worth noting that a similar investment is currently being undertaken in Izmir, Turkey.
Under the leadership of Viktor Orban, Hungary has emerged as the most pro-Chinese country in the EU. Therefore, the decision to select this specific location for the new BYD development centre should not come as a surprise.
