BYD, one of China’s fastest growing electric car manufacturers, seems to have made plans for its European factory. According to new reports BYDto establish an electric vehicle and battery factory Hungary is holding talks with.
BYD may open its European factory in Hungary
According to news from sources in the USA, BYD and the Hungarian government have reached a potential agreement. Accordingly, an electric vehicle and battery factory will be established in the city of Szeged in the south of the country. It is said that the Chinese manufacturer will invest “billions of euros”.
This decision by BYD also means that it will establish the first full-fledged automobile factory in Europe. The new facility in Hungary will allow the company to produce electric vehicles for European customers. On the other hand, let us note that other Chinese manufacturers such as Nio and GWM do not invest in Europe.
They will buy tax-free phones here! POCO introduced its affordable model
POCO, under the umbrella of Xiaomi, recently introduced its affordable Android phone model. Here are POCO M6 5G features and price…
BYD aims to dominate the European electric vehicle market by the end of the decade. In this context, although it will compete with European companies, it will also have to compete with a giant like Tesla.
Let us also remind you that BYD has an electric bus factory in Hungary. It is also building a battery assembly plant in the area north of Budapest. The new factory aims to combine these two productions.
BYD’s electric car factory is also a big win for Hungary. Inviting Chinese companies to invest in the country, the government estimates that the BYD project will create employment for thousands of people.
So what do you think about this issue? Don’t forget to share your opinions with us in the comments section!