China’s BYD, the world’s largest electric vehicle manufacturer is set to further expand its presence in Hungary by yet another major investment aiming at the production of electric trucks, the Hungarian Investment Promotion Agency (HIPA) reports.
The EUR 75.7 million investment will add a 29,000-square-meter facility to BYD’s electric bus factory in Komárom – 90 kilometers from the capital Budapest – and include the establishment of an R&D testing laboratory. Supported by HIPA, the project will enable the production of trucks alongside buses in Komárom and create 620 new jobs.
The plant, inaugurated in 2017, celebrated the production of the 1000th electric bus in June this year. A significant portion of these vehicles are operating on Hungarian roads. As the result of the new investment project, the plant’s production capacity will triple, reaching 1,250 buses and trucks annually, whereas the number of employees will more than double from the current 500.
The large-scale expansion of the factory in Komárom-Esztergom County is yet another sign of BYD’s trust in Hungary. The Komárom facility is the company's first European electric bus plant, while its first European electric car factory is under construction in Szeged.
BYD is also establishing its European business headquarters and R&D base in Hungary, creating around 2,000 high value-added jobs. The Budapest headquarters will play a leading role in BYD's European operations, from sales to the design of models tailored to local needs. The R&D center will focus on developing driver assistance systems and powertrain technologies.
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