Another Battery Assembly Plant Brought to Hungary

Chinese electric car maker BYD is to invest HUF 10 billion to set up a battery assembly plant in Hungary, according to a statement by the Hungarian Ministry of Foreign Affairs and Trade.

The company will further increase its presence in this country by building a plant in Fót, just NE of Budapest, to assemble electric batteries.

The investment, worth around HUF 10 billion and due to be completed soon, promises to create 100 new jobs in the first phase, with the government providing a grant of around HUF 1 billion.

Minister Péter Szijjártó is of the view that "this investment will enhance Hungary's role in the European electric car transition, confirming Hungary's leading role in this economic process.”

BYD produces electric buses in Komárom, NW Hungary, which are extremely popular both in Hungary and in the rest of Europe, for example, they account for around 80% of public transport in London, according to the ministry statement.