Car manufacturing giant BYD is setting its sights on Europe. It is set to build a new electric vehicle (EV) and hybrid manufacturing plant in Szeged, Hungary, and with this, it will be the first BYD passenger car factory on European soil.
The upcoming factory will feature advanced technologies
The said factory is part of BYD’s strategy to capture a larger slice of the European automotive market. Currently, the company already has a European branch in the Netherlands and it already sells a number of its electric vehicle products in the region, including the Atto 3, Seal, and Dolphin, among others. For now, though, these need to be shipped from China which is an arduous process.
Why Hungary? Well, BYD says that Hungary lies in the heart of the continent. It is also a transport hub that features “mature infrastructure and a well-established industrial foundation” which are crucial for the smooth operations of a manufacturing facility.
Going back to the factory, the Chinese firm says that it will be built in phases but a target finishing date was not shared. But once it is done, the factory will incorporate advanced technologies, particularly automated production processes. For its host nation meanwhile, the upcoming factory will likewise have a positive effect. It is likely to stimulate Hungary’s economy, as well as facilitate technological exchange between the latter and China.
BYD headquarters in The Netherlands
Of note, BYD has already reached a total of 3 million vehicles sold since its founding back in 1995. About 1.6 million of those are fully electric vehicles, while 1.4 million are hybrids. In the third quarter of 2023 alone, the brand sold 431,603 vehicles globally. This means that BYD is a strong player when it comes to EV sales and production.
But beyond merely selling EVs, it likewise contributes to bringing forward the brand’s “Cool the Earth by 1°C" vision. This is a direct call to action against climate change by way of adopting cleaner and greener forms of mobility like EVs.
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