BYD Chose Hungary to Produce Cars in Europe!
BYD, one of the leading companies in the electric vehicle industry, plans to establish an automobile factory in Hungary to enter the European market. This decision of the China-based company was leaked from internal sources, according to the news of the German newspaper Frankfurter Allgemeine Sonntagszeitung. It was also reported on a website in Shenzhen that BYD met with Hungarian Prime Minister Viktor Orban.
BYD told Reuters it was looking for a suitable location in Hungary and would make an announcement by the end of the year. The Hungarian government has not yet made a statement on the issue. Stella Li, BYD's CEO, stated in an interview in February that they wanted to produce cars in Europe and were working on this subject.
BYD operates in European markets such as Germany, France, the United Kingdom, Spain and Scandinavian countries. The company has had an electric bus factory in Hungary since 2016. Hungary, same zamIt currently hosts the factories of automotive giants such as Mercedes-Benz, Audi, Suzuki and BMW. BMW will make the first production of Neue Klasse electric cars, which will be launched in 2025, in Hungary.
BYD also entered the electric car market in Turkey. Atto 3, the company's C-SUV model, was recently put on sale with a price of 1.590.000 TL. Atto 3 seems to increase competition in the electric car market.