China -based BYD, one of the world’s giants in electric vehicle production, officially announced that the new management center and factory investment in Europe will be in Hungary. It is aimed to provide employment directly to 2 thousand people with the new center to be established by the company in Budapest.
Wang Chuanfu, Chairman of the Board of Directors of BYD, shared his expansion plans in Europe at a joint press conference with Hungarian Prime Minister Viktor Orban in Budapest. Chuanfu stated that the new center will not be only a management office and said, “Our new center will play an active role in many fields such as sales and after -sales services, test processes and special model development activities for Europe”.
Electric automobile base became Hungary
BYD previously established its first facility in Europe in 2016 in Komárom, Hungary, where it started to assemble electric buses. The company, which currently builds its second factory for the production of electric automobiles in another part of the country, aims to significantly strengthen its existence in Europe with this investment.
Local production target for the European market
While Hungary has become an attractive investment center for Chinese automotive companies in recent years, BYD’s new step is not only production of production but also R & D and Regional Government Center. Experts draw attention to the importance of local production and operational centers in sales to the European Union market and consider this move of BYD as a strategic step that will increase its competitiveness in Europe.
What contributions does the investment make?
Direct employment for 2 thousand people
Sales and After Sale Support Center
Test and Local Model Development Infrastructure
Production strategy for the European market
