Chinese automaker BYD plans a new EV plant in Hungary as part of its rapid global expansion

Published December 22, 2023 3:03 AM

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Chinese automaker BYD plans to build a new electric vehicle plant in Hungary, its first car factory in Europe, as part of its rapid global expansion. The company said Friday that Hungary will be the center for its European operations. The factory is to be based in Szeged in southern Hungary, near the border with Serbia and Romania. BYD, based in the southern Chinese city of Shenzhen, said it plans to create thousands of jobs in creating a “local green ecosystem” for manufacturing its electric vehicles. The factory will have an advanced production line and will be built in phases, it said without giving details on the amount of money to be invested.

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