Electric NEV Plant: BYD Affirms Intentions to Construct in Hungary

BYD emphasizes on its NEV Plant on European sales goals by establishing a facility in economically advantageous Hungary.

BYD Auto has officially announced its intention to construct a new energy vehicle NEV plant in Szeged, Hungary, emphasizing its commitment to European market expansion. The facility will focus on producing electric and plug-in hybrid vehicles, contributing to the region’s green transportation initiatives. The phased construction of the plant is expected to generate numerous local job opportunities and support the growth of the regional economy and supply chains.

BYD aims to integrate cutting-edge global technologies, implementing highly automated production processes to establish a leading NEV manufacturing hub in Hungary. Leveraging its expertise in integrated vertical supply chains, the company plans to contribute to the development of a sustainable local green ecosystem.

The decision to build the plant in Hungary, specifically in Szeged, comes after BYD’s successful operation of a battery-powered bus plant in Komarom, Hungary. The choice was influenced by lower wage costs and expenses compared to Germany, along with the strategic advantage of accessing the European Union. Hungary’s mature infrastructure and well-established industrial foundation further positioned it as an ideal location, attracting several premium European manufacturers.

BYD has marked significant progress in its European expansion, establishing 230 retail outlets across 19 countries within the first year. The introduction of five new models, such as Han, Tang, Atto 3, Seal, and Dolphin, spanning various segments, has contributed to this success. Looking ahead, BYD plans to unveil three new models in 2024, solidifying its position in the European NEV market.

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