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Another car factory to be built in Hungary - China's BYD arrives in Szeged
China's BYD, the world's largest electric car manufacturer, is to build its first European plant in Szeged in what will be one of the biggest investments in Hungarian economic history, creating thousands of new jobs
- announced on 22 December
The company, which sells one in four electric cars globally this year, is building new factories following its success on the world market, and has been looking for a location in Europe for a long time, said Minister of Foreign Affairs and Trade Péter Szijjártó.
Electric cars will be produced
And the company's board of directors finally decided the day before, after 224 rounds of negotiations with the National Investment Agency, to build its first plant in Szeged, which will be the sixth car plant in Hungary, he said.
BYD, which by September this year will have registered revenues of more than 20 billion forints and will employ around 630,000 people, will not produce batteries but electric cars in Hungary, he added.
He also said that the government will provide financial support for the investment, but the amount will only be disclosed after the European Commission's approval.
Source : Link
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