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BYD, China’s largest and one of the world leaders in electric car production, will establish its first factory in Europe for electric car production in Hungary. The company
The company announced this on its website, Ukrinform reported.
The business is planned to be established in Szeged, the third largest city in Hungary, in southeastern Hungary.
“The modern facility will be the first of its kind built in Europe by a Chinese automobile company and will feature an advanced automobile production line,” the message said. The statement is included.
The Chinese automaker will build the facility in phases and promises to create thousands of local jobs and stimulate the development of local automotive-related economic sectors.
BYD aims to equip the facility with the most advanced technologies and automate production processes as much as possible.
The company notes that many European premium car manufacturers already operate in Hungary, which has become an additional factor in favor of the decision to establish a business in this country.
The BYD brand has made significant progress in selling electric vehicles in Europe. Currently, the company has 230 car showrooms in 19 countries, and the European market is supplied with five new models (Han, Tang, Atto 3, Seal and Dolphin) from the C and E-class car segments, including hatchbacks, sedans. and SUVs. Next year, the Chinese auto giant plans to introduce three new models to the European market.
“Guided by the global vision of the “Cool the Earth by 1°C” brand, BYD aims to accelerate the pace of introduction of new light vehicles in the European market and deepen its globalization strategy,” the company said.
As reported, in early October the European Commission launched an investigation into alleged illegal subsidies to Chinese electric car makers by the Chinese government, aimed at protecting European electric car makers from the influx of cheap Chinese cars.
The investigation, which will last about a year, is expected to determine whether China’s electric vehicle value chains have benefited from illegal subsidies and whether this subsidy has caused or threatened to cause economic harm to European electric car makers.
If violations are confirmed, the European Commission could increase customs duties on electric cars imported from China in a bid to protect European manufacturers from unscrupulous competitors.
As reported by Ukrinform, Volkswagen Group has become the latest automaker to announce that it will adopt the North American Tesla charging standard (NACS).
Photo: byd.com
Source: Ukrinform
As an experienced journalist and author, Mary has been reporting on the latest news and trends for over 5 years. With a passion for uncovering the stories behind the headlines, Mary has earned a reputation as a trusted voice in the world of journalism. Her writing style is insightful, engaging and thought-provoking, as she takes a deep dive into the most pressing issues of our time.
