US EditionBYD Confirms Hungarian EV Factory Is on Track, Rejects Delay Rumours
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9 Articles
BYD Confirms Hungarian EV Factory Is on Track, Rejects Delay Rumours
Chinese electric vehicle maker BYD is standing by its decision to build its first European car factory in Szeged, Hungary, and has not made any changes to its original investment and production schedule, said István Joó, the government’s commissioner for strategic investment and CEO of HIPA, Hungary’s investment promotion agency. Reacting to recent media reports, Joó dismissed claims that BYD had delayed its Hungarian plans in favour of expandin…
István Joó wrote that the Chinese BYD plant in Szeged is being built at full speed.
The planned capacity of the BYD factory in Szeged has not changed, and press reports that the Chinese giant is postponing the ramp-up of production in Szeged are not true.
BYD Hungary confirmed in a statement sent to MTI on Wednesday that the Chinese automaker has long-term plans in Europe and is particularly committed to investing in Hungary. According to the company, the construction of the Szeged factory is progressing according to schedule, and production is planned to start by the end of 2025. The facility is planned to be able to produce 300,000 cars per year, […]
In 2023, BYD announced its intention to build a factory in Europe, specifically in Hungary. And, with the arrival of Europe’s added tariffs in 2024 – with which BYD pays 17% more taxes – the sector thought that this factory would be a way out of that problem; by being able to manufacture BYD many of its cars in Europe and thus avoiding tariffs. Now, the Reuters news agency has made public that BYD will delay the mass production of its vehicles i…
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