BYD Plans European Headquarters, 2,000 Jobs Hungary

Chinese electric vehicle manufacturer BYD is establishing its European headquarters and a research and development center in Budapest, Hungary, marking a significant expansion into the European market. The new center will focus on sales and after-sales services, vehicle certification and testing, and the design of models tailored to local preferences, aiming to create around 2,000 jobs. This move builds on BYD's existing presence in Hungary, where it operates an electric bus assembly plant since 2016 and is constructing a new passenger electric vehicle factory in Szeged. Hungarian Prime Minister Viktor Orban highlighted the strategic partnership with BYD as a key part of Hungary's efforts to become a hub for Chinese electric vehicle and battery production, reinforcing strong Sino-Hungarian economic ties. The total investment for the European hub is approximately 248 million euros, reflecting BYD's commitment to deepening its footprint in Central Europe. The development aligns with Hungary's broader strategy to leverage Chinese investment for advancing its electric vehicle industry.