BREAKING – Chinese BYD to establish European HQ in Hungary! – UPDATED
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Chinese vehicle maker BYD will establish its European headquarters in Hungary, founder and chairman Wang Chuanfu said after a meeting with Prime Minister Viktor Orban in Budapest on Thursday.
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Chinese BYD to establish European HQ in Hungary
Wang acknowledged Hungary as one of the world’s automotive industry centres, with well developed infrastructure and an established industrial base, and said putting the company’s European HQ in the country was a milestone for BYD and tangible proof of Chinese-Hungarian cooperation in the framework of the Belt and Road Initiative.
Wang said the establishment of BYD’s European HQ in Hungary would create around 2,000 jobs. The HQ will handle sales and after-sales service, vehicle certification and testing, and model planning and function development, he added.
Wang Weizhong, the governor of Guangdong Province, where BYD is based, said the region accounted for about 10pc of bilateral trade between China and Hungary. Companies from the province have made a number of investments in Hungary, providing the livelihoods for around 10,000 people, he added.
PM Orbán: Cars of the future to be made in Hungary, too
The cars of the future will be made in Hungary, too, Prime Minister Viktor Orbán said after the signing of a strategic cooperation agreement between the government and Chinese vehicle maker BYD in Budapest on Thursday. Orbán noted that Hungary’s government had earlier taken a strategic decision to involve the country’s industry with the electromobility transition. He acknowledged that there would be “peaks and troughs” as the new technology was adopted, but said Hungary would not “miss out” on the switch.
He said Hungary needed partners to enter the age of electromobility and highlighted the country’s strategic cooperation with China, the electromobility technology leader. He added that Hungarian-Chinese ties were now more intensive than ever before.
Orbán noted that Hungary had earlier joined Hungary’s Belt and Road Initiative and highlighted an invitation by Chinese President Xi Jinping during a visit to Budapest for Hungary to participate in the modernisation of China’s economy.
