Confirmations arrive on BYD's intention to build in Hungary its next factory dedicated to the production of electric cars. And these are official confirmations, given that they come directly from Viktor Orban, who is the head of state of Hungary. “The future of the automotive industry is written in Hungary. The world's largest electric car manufacturer, BYD Company, is building its first European plant in Szeged.”the Hungarian president wrote on X.
Orban's announcement
The agreement has been found and the last formalities seem to have been resolved, which was decisive in this sense the last meeting in Budapest which saw Orban as protagonist together with the top management of the Chinese company founded in Shenzhen. Zoltan Kovacs, spokesman for the Hungarian government, then added: “We are faced with a multi-billion dollar investment which promises technological change, creating thousands of jobs and benefiting local suppliers.”
Europe takes note
Both parties have recognized that Hungary has actually been there for several years now main investment destination of China in Central and Eastern Europe. And precisely speaking of Europe, let's not forget that Orban's announcement of the construction of this new BYD factory in Hungary comes at a delicate historical moment between Europe and China in the automotive field, considering that for months Brussels has been implementing a anti-dumping strategy in an attempt to limit the economic advantage of the Asian giant in various sectors, including that of electric cars.
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