BYD to Open First European EV Production Facility in Hungary

The move marks a significant step in the Chinese automaker's global expansion and is expected to create thousands of jobs in the region.

Chinese electric vehicle (EV) manufacturer BYD is set to open its first European production facility in Hungary, marking a significant step in its global expansion strategy.
The new factory will be located in the southern city of Szeged and is expected to create thousands of jobs in the region.
The Hungarian government will provide financial incentives to BYD for the construction of the plant, which is anticipated to be one of the largest investments in the country's economic history.
BYD, which is Tesla's largest global rival in EV production, already operates an electric bus manufacturing plant in Hungary. The new facility will be the first major consumer EV production facility in Europe for a Chinese automaker.
BYD's decision to open its plant in Hungary follows 224 rounds of negotiations between the company and the Hungarian government.