BYD plans to open 14 factories in the world
January 30, 2024 BYD signed a land purchase agreement with the municipal government of Szeged in Hungary for a passenger car plant. This marks an important milestone in BYD's European expansion. The event was attended by Péter Szijjártó, Minister of Foreign Affairs and Trade of Hungary; Laszlo Botka, Mayor of Szeged; Gong Tao, Chinese Ambassador to Hungary; and Wang Chuanfu, Chairman and President of BYD.
During the ceremony, Péter Szijjártó, Hungarian Minister of Foreign Affairs and Trade, called the project “one of the largest and most significant investments in Hungarian history.” He stressed that the construction of BYD's first European NEV passenger car plant in Hungary will not only strengthen the country's economic status, but will also strengthen its foundation for long-term economic growth and strengthen its position in the global transition to electric vehicles. Both the central and local governments of Hungary have pledged their full support to facilitate the rapid commissioning of the project.
Wang Chuanfu announced BYD's intention to transfer its advanced technology and highly automated production lines to Hungary, supporting the local auto industry's transition to electrification. BYD is committed to accelerating localized production and driving the industry's green and low-carbon transformation.
BYD currently plans to open 14 electric vehicle production bases around the world, including nine entire vehicle production plants in China. In addition, BYD has opened five factories for the production of electric vehicles in Uzbekistan, Thailand, Brazil, Hungary and Indonesia.