China’s BYD to build its first European electric vehicle factory in Hungary

By JUSTIN SPIKE
Associated Press

BUDAPEST, Hungary (AP) — One of the world’s largest electrical vehicle manufacturers, China’s BYD, will open its first European EV production factory in Hungary, the country’s foreign minister said on Friday. The move was the latest step in the Central European nation’s efforts to become a global hub for EV manufacturing. The plant will be built near the southern Hungarian city of Szeged, and is expected to provide thousands of jobs to the region, Hungarian Foreign Minister Peter Szijjarto said, adding that it will be “one of the largest investments in Hungarian economic history.” Hungary in recent years has sought to become a global hub of lithium-ion battery manufacturing in an era where governments are increasingly seeking to limit greenhouse gas emissions by switching to electric cars.