Historic investment announced: Chinese electric carmaker comes to Hungary

Chinese electric carmaker comes to Hungary
Photo: FB/Péter Szijjártó

Chinese electric car maker BYD will build its first plant in Europe at Szeged, in southern Hungary, the minister of foreign affairs and trade said on Friday.

The foreign ministry quoted Péter Szijjártó as calling the project “one of the most significant investments in the history of Hungary’s economy creating thousands of jobs”. The new plant will be Hungary’s sixth car producer, he added.

The Hungarian government will provide a grant to assist the project, Szijjártó said, but added that the exact amount would not be disclosed before the European Commission granted its consent.

The new project will further strengthen the Hungarian economy, “the foundations for long term growth, and Hungary’s position in the global transition to electric cars”, the minister said. He added that BYD is the world’s biggest electric carmaker. He highlighted in a Facebook post that the government and the Chinese company had 224 rounds of negotiations.

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