BYD to Build A New Energy Passenger Vehicle Factory in Hungary for Localised Production in Europe

December 22, 2023 - BYD, the world's leading manufacturer of new energy vehicles (NEV), announces the next stage of its European strategy with the construction of a brand-new manufacturing and production centre in Szeged, Hungary. The state-of-the-art facility will be the first of its kind built by a Chinese automotive company in Europe and will have the advanced car production line. The factory will be built in phases and is expected to create thousands of local jobs, boost the local economy and support local supply chains.

The new production facility will incorporate the most advanced global technology and highly automated production processes to create a leading global new energy passenger vehicle manufacturing facility. The construction of this production centre is expected to have a positive impact on the local economy by promoting technological exchange and innovation between China and Hungary. BYD will also utilise its expertise in integrated vertical supply chains to help create a green ‘ecosystem’ locally.

Situated in the heart of Europe, Hungary is an essential transportation hub and boasts a rich history of expertise in the automotive industry. With a mature infrastructure and a well-established industrial foundation, Hungary has been chosen by several premium European manufacturers as a production location for passenger cars. This further supports BYD's decision to make Hungary the centre of European production operations.

The BYD brand has made significant progress in launching its passenger car operations in Europe. Within the first year, the company has established 230 retailer stores across 19 countries, introduced five new models (BYD HAN, BYD TANG, BYD ATTO 3, BYD SEAL, and BYD DOLPHIN), spanning the C to E segments, including hatchbacks, sedans, and SUVs. Additionally, three new models are planned to be launched within the next 12 months.

Driven by its global brand vision to "Cool the Earth by 1°C", BYD aims to accelerate the pace of new energy passenger vehicle penetration into the European market, further deepen its globalisation strategy, and actively promote the green transformation of the global energy structure.

More information concerning specific details of the new production facility will follow.

About BYD

BYD is a multinational high-tech company devoted to leveraging technological innovations for a better life. Founded in 1995 as a rechargeable battery maker, BYD now boasts a diverse business scope covering automobiles, rail transit, new energy, and electronics, with over 30 industrial parks in China, the United States, Canada, Japan, Brazil, Hungary, and India. From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions that reduce global reliance on fossil fuels. Its new energy vehicle footprint now covers 6 continents, over 70 countries and regions, and more than 400 cities. Listed in both Hong Kong and Shenzhen Stock Exchanges, the company is known to be a Fortune Global 500 enterprise that furnishes innovations in pursuit of a greener world.

About BYD Auto
Founded in 2003, BYD Auto is the automotive subsidiary of BYD, a multinational high-tech company devoted to leveraging technological innovations for a better life. Aiming to accelerate the green transition of the global transportation sector, BYD Auto focuses on developing pure electric and plug-in hybrid vehicles. The company has mastered the core technologies of the entire industrial chain of new energy vehicles, such as batteries, electric motors, and electronic controllers. It has witnessed in recent years significant technological advancements, including the Blade Battery, DM-i Super Hybrid Technology, e Platform 3.0, CTB Technology, e⁴ Platform, BYD DiSus Intelligent Body Control System, and DMO super hybrid system. The company is the world's first carmaker to stop the production of fossil-fueled vehicles on the EV shift and has remained top of new energy passenger vehicle sales in China for 10 years in a row.