Chinese electric vehicle giant BYD has formally announced that it will be establishing its first passenger car facility in Szeged, Hungary. The plant will produce new energy vehicles (NEVs) – the Chinese term for all-electric vehicles (BEVs), and plug-in hybrids (PHEVs).
According to BYD, the manufacturing base will be constructed in multiple phases, creating thousands of jobs. The factory will reportedly have a six-figure annual output, producing over 100,000 NEVs annually. The plant is expected to reach completion within 2 years.
It will be the first vehicle production factory in Europe built by the Chinese automaker. Xpeng, Nio, Voyah, HiPhi, Great Wall Motors, and MG are some of the Chinese vehicle brands available in Europe, but they all import their vehicles to be sold on the Old Continent. Moreover, none of them has disclosed plans to build a car manufacturing plant in Europe yet.
Related: BYD Dolphin Giving City and Yaris in Thailand a Run for Their Money
Hungary is emerging as a manufacturing hub for Chinese EV makers. Nio already has a small facility near Budapest in Biatorbágy, which produces its Power Swap Stations (PSS). BYD already has a bus factory in Komárom, near the border with Slovakia. Moreover, CATL announced in 2022 that it will build a 100 GWh plant in Hungary’s second-largest city, Debrecen, with a $7.6 billion investment. Earlier, another battery maker, Sunwoda Electronic, announced plans to build a 1.96 billion yuan ($275 million) plant producing battery packs for electric vehicles in the country.
BYD announced its electric vehicle drive into Europe in 2022 at the Paris Motor Show, and it has since expanded into 19 European countries. Michael Shu, the CEO of BYD’s European operations, stated earlier this year that by 2030, the company wants to become the largest electric vehicle seller in the region and envisions having a 10% market share in Europe.
Responsible for delivering local & international automotive news.
