Chinese automotive giant BYD is set to establish its first-of-its-kind manufacturing and production center in Szeged, Hungary, marking a significant milestone for the company’s expansion into Europe. This initiative represents a noteworthy development as it underscores the increasing global footprint of Chinese automotive companies.
The manufacturing facility will be constructed in phases, with expectations to generate a substantial number of local jobs, provide a boost to the regional economy, and foster the growth of local supply chains. BYD aims to leverage advanced global technology and implement highly automated production processes to create a cutting-edge new energy passenger vehicle manufacturing facility. Additionally, BYD plans to capitalize on its expertise in integrated vertical supply chains to contribute to the development of a local green ‘ecosystem.’
Hungary, recognized as an integral transportation hub with a storied history of automotive industry expertise, was strategically chosen for this venture. The country boasts a well-established industrial foundation and mature infrastructure, making it a preferred production location for numerous premium European manufacturers in the passenger car segment.
BYD has been making significant strides in establishing its presence in the European passenger car market. In its inaugural year, the company successfully launched 230 retailer stores spanning 19 countries. Notably, BYD introduced five new models, covering a spectrum from hatchbacks and sedans to SUVs. The models include BYD HAN, BYD TANG, BYD ATTO 3, BYD SEAL, and BYD DOLPHIN, encompassing segments from C to E. Underscoring its commitment to innovation, BYD plans to introduce three new models within the next 12 months, further solidifying its position in the competitive European automotive landscape.