BYD invests in battery assembly plant in Hungary


BYD is investing around 27 million euros in a new battery assembly plant in Fót near Budapest, Hungary. The government supports the move – also financially.

The announcement was made by Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Trade. According to him, the plant will initially create 100 jobs. The government assured the company of financial support amounting to one billion forints. That is about 2.7 million euros.

“This investment will boost Hungary’s role in the European auto industry’s electric transition, contribute to the protection of Hungarian jobs and help attract more capacities in the most important industry of the future,” Szijjártó told reporters.

BYD builds electric buses for the European market in Komárom, Hungary. Szijjártó added that the Chinese EV maker supplies about 42 per cent of buses in Hungary, as cities and municipalities are replacing their old buses with electric ones. “That means the Chinese are an absolute market leader in Hungary in terms of electric buses,” he said.

And according to an earlier report, the manufacturer recently increased its production capacities fivefold – from 200 to 1,000 electric buses.,


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