Chinese automaker BYD has unveiled plans to construct its first passenger electric vehicle production base in Europe located in the city of Székesfehérvár, Hungary.
The proposed multibillion-euro facility aims to bring thousands of new jobs to the region while localizing BYD’s EV manufacturing for the European market. BYD continues its relentless electric vehicle ascent, crossing over 300,000 new energy vehicle (NEV) sales again in November per just-released Hong Kong Stock Exchange filings, hitting 301,903 electric car deliveries last month brings 2023 volume near 2.7 million at 2,683,374 units.
BYD is finalizing negotiations with the Hungarian government this week. If approved, plant would represent the largest Chinese brand auto factory in Europe thus far.
For BYD, the Hungary location provides a strategic foothold into Europe where it hopes to capture 10% of EV sales by 2030. The brand has bold ambitions to become Europe’s top selling EV maker within the decade.
While other Chinese automakers like NIO and Great Wall Motor also eye Europe expansions, none have solidified local production plans yet, gives BYD a first-mover advantage.
BYD already operates a bus assembly site in Hungary, so this passenger vehicle factory marks a logical next step. The company recently entered Hungary’s auto market officially, debuting its ATTO 3, Dolphin, and Seal EV models and launching a national dealer network.
Localizing production in Hungary will allow BYD to better tailor designs for European preferences while avoiding cross-continental supply chain headaches, also strengthens BYD’s distribution and servicing capabilities across the region.
With deep expertise in battery electric vehicles, BYD brings a credible challenge to European mainstays, Hungary EV plant clearly signals BYD’s intentions to become a major force in Europe’s auto scene for decades to come.