acf domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/ecg/ecgassociationdev/wp-includes/functions.php on line 6121Automotive News Europe — 2023-12-21
Automotive Industry
Chinese electric vehicle giant BYD is in final talks with the Hungarian government to secure a multi-billion-euro investment in a new electric car factory, in a deal that could be announced as early as Friday, the Financial Times reported.
BYD is looking to manufacture electric cars and batteries at a new plant in Szeged, in the south of Hungary, the report said, citing three people briefed on the plans.
BYD already has a bus facility in the country, but is investing in the plant as it seeks to dominate the European EV industry by end of the decade, the newspaper said, adding that negotiations between the company and the government were ongoing on Thursday.
Hungarian Prime Minister Viktor Orban said at a news briefing on Thursday that he expects the southern Hungarian region near Szeged to get an increase in employment following big corporate investments.
BYD and the Hungarian government did not immediately respond to a Reuters request for comment on the FT report.
A government website in Shenzhen, where BYD is headquartered, posted an article in October saying that Orban met BYD Chairman and President Wang Chuanfu on a visit to the company.
BYD sold just over 13,000 cars in Europe though November, according to market researchers Dataforce. The Atto 3 was its bestselling with nearly 11,000 units sold.
Mercedes-Benz, Audi and Suzuki have car plants in Hungary. BMW's new Hungarian plant is scheduled to start building Neue Klasse electric cars in 2025.