BYD Auto has confirmed it will build a new plant in Szeged, Hungary dedicated to the production of new energy vehicles (NEVs), including electric and plug-in-hybrid vehicles, to be sold mainly across Europe. The Chinese automaker said the new plant will be built in stages and is expected to create “thousands of local jobs, boosting the local economy and supporting local supply chains”. 

BYD claimed the new production facility will incorporate the most advanced global technologies, including highly-automated production processes, to create a leading global NEV manufacturing operation in the country. The company said it will “utilise its expertise in integrated vertical supply chains to help in the development of a green ‘ecosystem’ locally.

The automaker already has a plant in Komarom, Hungary, producing battery powered buses. It is said to have chosen Hungary over Germany due to much lower wage costs and other expenses while also securing access to the EU. BYD also pointed to the country’s mature infrastructure and its well-established industrial foundation, which has helped make it the chosen production location of “several premium European manufacturers”.

BYD said it has made significant progress in expanding into Europe so far, with the establishment of 230 retail outlets across 19 countries in its first year. It has introduced five new models in the region, including the Han, Tang, Atto 3, Seal and Dolphin, spanning C to E segments and including hatchbacks, sedans and SUVs. The company plans to launch three new models in 2024.

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By GlobalData