BYD Plans To Open Its First Car Factory In Europe

JAKARTA - BYD, the electric vehicle giant from China, is reportedly planning to build its first car factory in Europe.

According to a German newspaper report, Frankfurter Allgemeine Sontagszeitung (FAS), reported by Reuters, November 4, the company plans to set up a car factory in Hungary.

It is known that BYD and the Hungarian government itself had partnered long enough to start when BYD opened an electric bus factory in Komarom City, northern Hungary, in 2017, targeting a production capacity of 400 electric buses per year.

Earlier, last month a government website of Shenzhen, China, where BYD headquarters is located, posted a statement that Hungarian Prime Minister Viktor Orban met with BYD Chairman and President Wang Chuanfu to discuss this while visiting the company.

This planned automaker is a strategic step BYD to expand its footprint in Europe, which is a potential market that is increasingly attractive to electric vehicles.

With the establishment of a car factory and previously there is an electric bus factory in Hungary, it is hoped that BYD can strengthen its position in the increasingly fierce competition in the electric car industry in Europe. Thus, this step is also expected to create new jobs and make a positive contribution to the Hungarian economy as a whole.