Chinese car manufacturer BYD says it has long-term plans for Europe, and construction of its Hungarian factory is proceeding according to plan, despite press reports to the contrary.
According to the information provided by BYD Hungary to MTI on Wednesday, production is scheduled to start at the end of the year, and cars will soon be manufactured in Europe for the European market. The planned capacity of the Szeged factory has not changed: they expect to reach a peak annual capacity of 300,000 units. In addition, they are currently working on the certification of 150 Hungarian and European suppliers to further strengthen their local supply chain, they wrote.
Responding to press reports, István Joó, government commissioner and CEO of the Hungarian Investment Promotion Agency (HIPA), said in a statement sent to MTI on Tuesday that BYD, which is building its first European car factory in Szeged, SE Hungary, remains committed to Hungary and has not changed its plans for the investment and ramp-up of production.
He recalled that in December 2023, after 224 rounds of negotiations, the Chinese company decided to build its first European car factory in Hungary. Construction began in 2024 on the 300-hectare site in Szeged. The investment will create thousands of high value-added jobs, and local suppliers will also benefit from BYD's presence.
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