China’s EV giant BYD revved up its European expansion plans today, announcing the construction of a brand-new passenger car factory in Szeged, Hungary. This state-of-the-art facility marks a significant milestone – the first European passenger car factory for a Chinese automaker.
The new factory promises to be a game-changer, boasting cutting-edge technology and high automation, aiming to become a leading global NEV production hub. Beyond the impressive tech, BYD‘s commitment to local integration extends to creating thousands of jobs and fostering a “green ecosystem” through its vertically integrated supply chain.
Hungary, with its central European location and established automotive expertise, proved the perfect fit for BYD’s ambitions. The mature infrastructure and skilled workforce already attract several premium European carmakers, making it a natural home for BYD’s European production hub.
This isn’t just about bricks and mortar. BYD has already made significant strides in the European market, establishing 230 retailers across 19 countries within a year. Their diverse model lineup, spanning hatchbacks to SUVs, has seen five new cars introduced, with three more planned for the next 12 months.
Driven by its “Cool the Earth by 1°C” vision, BYD aims to accelerate the electrification of Europe’s roads. This factory marks a critical step in their globalization strategy and commitment to a greener future.
While specific details about the factory are still under wraps, this announcement sends a clear message: BYD is serious about conquering the European market and driving the green mobility revolution. With its ambitious plans and technological prowess, BYD is poised to become a major player in shaping the future of European transportation.