BYD Announces Its First European Car Factory in Hungary

Chinese EV maker BYD will build its first passenger car factory in Szeged, Hungary. Through its official WeChat Channel, the company announced that the plant will produce new energy vehicles (NEVs) – the Chinese term for all-electric vehicles (BEVs), and plug-in hybrids (PHEVs).

BYD said the manufacturing base will be constructed in several phases, creating thousands of jobs. The factory will have a six-figure annual output, producing over 100,000 electric vehicles annually. The construction is expected to take two years. It will be the first European factory built by the Chinese EV brand.

Hungary is becoming a manufacturing hub for Chinese EV makers. Nio already has a small factory near Budapest, which produces its Power Swap Stations (PSS). BYD 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. Another battery maker, Sunwoda Electronic, announced plans to build a $275 million plant producing battery packs for electric vehicles in the country. BYD aims to have a 10% European EV market share by 2030 and become the region’s largest EV seller.