Péter Szijjártó, Minister of Foreign Affairs and Trade, has announced that Chinese electric car maker BYD will build its first plant in Europe in Szeged, in southern Hungary.
Minister Szijjártó called the project “one of the most significant investments in the history of Hungary’s economy creating thousands of jobs”. The new plant will be Hungary’s sixth car producer, he added. The Hungarian government will provide a grant to assist the project, Minister Szijjártó said, but added that the exact amount would not be disclosed before the European Commission granted its consent. The new project will further strengthen the Hungarian economy, “the foundations for long-term growth, and Hungary’s position in the global transition to electric cars”, the minister said.
In a separate statement, the municipal council of Szeged said the plant would be built at the site of a 300-hectare industrial park on the outskirts of the city. BYD will undertake the entire manufacturing process, with the exception of battery production, in Szeged, it added. BYD picked Szeged because of its international reputation in research, its outstanding infrastructure, favourable location and green approach, the city council said.