BYD expands further - New electric bus manufacturing plant to be built in Komárom

China's BYD is investing HUF 32 billion to build a new electric bus manufacturing plant in Komárom, which will create 620 new jobs, the Ministry of Foreign Affairs and Trade said in a statement.

Capacity triples

Speaking at the ground-breaking ceremony of the new plant in Komárom on Friday, Minister of State Péter Szijjártó said that the Chinese company will carry out a HUF 32 billion investment in Komárom, which will be supported by the government with HUF 3.1 billion, thus helping to create 620 new jobs.

The project will create a research and development test laboratory and triple the capacity of the plant, which will produce a total of 1,250 electric buses and trucks a year, he said.

Major investments started in Szeged and Budapest

In his speech, he said that BYD is a very dynamically expanding company, and in the first five months of this year they increased the number of vehicles sold by 40 percent, which means that our country has boarded a fast train that many in Europe are trying to get on. "The expansion of BYD's activities provides an opportunity for Hungary to continue to be a European leader in the most modern sector, the electric vehicle industry, which is the backbone of the European economy," he said.

He also recalled that BYD has announced three major investments in Hungary in one and a half years, the company started the construction of its first European car plant in Szeged, then decided to bring its European headquarters and R&D centre to Budapest, and this time it will start the construction of this new bus manufacturing plant in Komárom.

"We had to compete very hard for all three investments. And for all three investments we were competing with Western European countries," he stressed.