The Chinese car giant Byd announced Thursday, May 15, the opening of a European center in Hungary on Thursday, May, with the key of the promise of 2,000 employment creations, thus strengthening its presence in the country of Central Europe.
Byd “has decided to establish its European headquarters and its development center in Budapest,” a total investment of 100 billion years (248 million euros), said the Hungarian government in a press release, after a press conference from Prime Minister Viktor Orban and the Wang Chuanfu CEO.
The group is already established in Hungary, where its first European electric cars must open at the end of 2025. According to the media, this site is in the visitor of the European Commission, which has initiated investigation into possible Chinese subsidies.
“A new step in cooperation” between China and Hungary
Defender of an Opening strategy to the East, Viktor Orban has pressed the ties of the country of Central Europe with Beijing since his return to power in 2010. He had received Chinese President Xi Jinping last year. Remembering that Hungary already welcomes many cars manufacturers, especially Germans, the nationalist leader has praised the “qualitative leap” represented by BYD’s announcement and the “intense” phase of Sino-Hungarian relations. For the CEO of Byd, “this is a new step in the cooperation” of two countries.
The center “will be an essential center for the European market”, acting in “sale and post -sales service, certification and tests of vehicles, as well as the design and development of models adapted to the local market,” said Wang Chuanfu.
When it was created in 1995, Byd, which adopted the English slogan “Build Your Dreams”, specialized in the design and manufacture of batteries. In full expansion, it became the sixth world car manufacturer in 2024, with 4.2 million cars sold (including 10% abroad). But geopolitical and commercial tensions, in the context of a commercial war launched by the Trump administration, could complicate the task of the Chinese giant that benefited from the generosity of Beijing injected into the sector. Byd exceeded the American group Tesla for the first time in 2024 in the world car market.
Source: BFM TV
