US EditionHungary Becomes Key Hub in East-West Tech Cooperation with BYD Deal
- Hungary and BYD signed a strategic cooperation agreement in Budapest to build a new factory starting production by late 2025.
- This deal follows Hungary’s growing ties with China, including infrastructure projects like the Budapest-Belgrade railway supported by Beijing.
- Prime Minister Orbán emphasized Hungary’s role in the global shift to electric mobility and the importance of international partnerships, especially with China.
- Orbán emphasized that BYD marks just the beginning of a broader initiative, anticipating the creation of 2,000 new high-skilled jobs, and indicated that Hungary is becoming a key player in producing the next generation of vehicles.
- The cooperation marks Hungary’s intent to become a key link between Western and Eastern economies and boost its industrial modernization through connectivity.
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They are moving opposite the new MÁV headquarters, which is currently under construction.
Hungary Becomes Key Hub in East-West Tech Cooperation with BYD Deal
Hungary has officially entered a new era of industrial development with the signing of a strategic cooperation agreement between the government and Chinese electric vehicle giant BYD. Prime Minister Viktor Orbán announced the deal in Budapest following meetings with BYD CEO Wang Chuanfu and Guangdong Governor Wang Weizhong. ‘This agreement means that the cars of the future will be made in Hungary,’ Orbán stated, highlighting the nation’s transfo…
Chinese car manufacturer BYD has announced an investment worth around one hundred billion forints, as part of which the company will locate its European corporate and development center in the Hungarian capital, Minister of Foreign Affairs and Trade Péter Szijjártó announced in Budapest on Thursday, according to MTI.
Hungary strengthens role as China’s EU gateway with BYD expansion
Hungary strengthens role as China’s EU gateway with BYD expansion May 16, 2025 Posted by: Quatro Strategies Categories: Business & Politics, China, Europe, EVs & Battery Technology No Comments Subscribe to unlock this insight. START YOUR TRIAL NOWALREADY A MEMBER? .vc_custom_1452662201783{margin-right: 0px !important;margin-bottom: 40px !important;margin-left: 0px !important;}.vc_…
According to the Foreign Minister, the development of the Hungarian economy is largely due to China.
BYD CEO Wang Quanfu arrived in Hungary last night. During the day, it was announced that the Hungarian government has signed a strategic cooperation agreement with the automaker, and BYD will establish its new European headquarters in Hungary.
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