BYD will build a new energy vehicle production base in Hungary

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BYD will build a new energy vehicle production base in Hungary © Reuters BYD will build a new energy vehicle production base in Hungary

Chinese automaker, BYD (SZ:) announced Friday that the company has decided to build a new energy vehicle production base in Hungary.

BYD, Tesla (NASDAQ:)’s biggest Chinese competitor, has announced plans to construct a new facility in Szeged, located in southern Hungary. This venture is anticipated to generate thousands of local employment opportunities, as stated in BYD’s announcement on its official WeChat account.

BYD already operates a plant in the city of Komarom, situated in northwest Hungary, primarily focused on assembling electric buses. Established in April 2016, the Komarom plant marked BYD’s inaugural factory in Europe, according to the company’s records.

BYD currently boasts over 30 industrial parks and production facilities worldwide, including factories in various countries such as the United States, Brazil, Japan, and India, in addition to its operations in Hungary.

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