Here is Chinese BYD’s big announcement about their new carmaker plant in Hungary
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Chinese electric car maker BYD has signed a preliminary agreement to purchase 300 hectares of land outside Szeged, in southern Hungary, to build its first plant in Europe, Péter Szijjártó, the foreign minister, said on Tuesday.
According to a ministry statement, Szijjártó hailed the project as “one of the most important investments in Hungary’s economic history by one of the world’s largest electric car makers”.
The new plant will be the fifth such car factory in Hungary, Szijjártó said, adding that three were German, while BYD would be “the second company from the East”. The project will cost “billions of euros” and create jobs “in the thousands”, he said, adding that the Hungarian government would provide a grant to the project after negotiations with the European Commission concerning the magnitude of the sum.
The BYD project, the minister said, would ensure that the Hungarian economy staye on a growth path in the long run.
“We in Hungary support green energy and the green industry, not on an ideological but on a practical basis … here environmental protection and boosting competitiveness go hand in hand,” Szijjártó said.
This is very good news for the Hungarian economy .
Not only will this create hundreds of jobs in the plant , it will create hundreds more in the support and service economy as well as demonstrating the Hungarians are open for Business and investment .