Chinese Automaker BYD Plans European Expansion with New Production Facility in Hungary

105
Chinese Automaker BYD Plans European Expansion with New Production Facility in Hungary
(Image: Fabrice Cofrini/AFP via Getty Images)

The Chinese automaker Build Your Dreams (BYD) is planning to expand into Europe and establish a production facility in the region. The company has reportedly already chosen a location.

While BYD’s vehicles have only recently entered the European market, the world’s second-largest electric car manufacturer aims to not only sell but also manufacture cars in Europe, following in the footsteps of the leader, Tesla.

The location of the factory is expected to be in Hungary, as reported by the Frankfurter Allgemeine Sonntagszeitung (FAS). The weekly newspaper obtained this information from sources close to the automaker.

Orbán Visits BYD in Shenzhen

In mid-October, Hungarian Prime Minister Viktor Orbán embarked on a state visit to China and was among the few European representatives attending an event related to the Belt and Road Initiative, also known as the New Silk Road. During the state visit, Orbán paid a visit to BYD in Shenzhen and held discussions with the company’s CEO, Wang Chuanfu.

During the IAA Mobility event in Munich in September, Wang emphasized that Europe is a crucial strategic market for the company. Therefore, BYD intends to establish a factory in Europe to establish itself as a local brand for the European market. This marked the company’s first appearance at the prominent German automotive trade show. BYD aims to rank among the top five in terms of registrations in Europe.

Saarlouis was also considered a potential location for the BYD factory, as Ford is still manufacturing the Focus there. However, Ford plans to discontinue Focus production by 2025. It was revealed earlier in the year that BYD expressed interest in the Ford plant.

It now appears that BYD will be manufacturing its European electric vehicles not in Saarlouis but in Szeged, located in the southern part of Hungary. According to FAS, the decision has already been made, although the manufacturer has not officially confirmed this information. A spokesperson for the weekly newspaper mentioned that the location for the new factory will be announced by the end of the year.

READ MORE: Mozilla Shifts to Git, Abandoning Mercurial for Firefox Development and Resource Efficiency

Previous articleNintendo Switch 2 Processor Details Emerge: Powerful Upgrades and Potential Partnerships Revealed
Next articleGoogle and European Telecoms Urge EU to Classify iMessage as Core Service
William Wylie
William Wylie, a tech writer with a penchant for future tech, shares his perspective on the ever-evolving world of tech, offering a glimpse into the next big breakthroughs.