BYD plans to set up its European headquarters in Hungary, stepping up its efforts to expand in the European market.
The Chinese new energy vehicle (NEV) maker signed a strategic cooperation agreement with the Hungarian government in the country’s capital of Budapest on May 15, in the presence of Hungarian Prime Minister Viktor Orban and BYD chairman and president Wang Chuanfu, according to a statement today.
BYD announced that it will open its European headquarters and establish a new European R&D center in Budapest.
BYD’s European headquarters will have three main functions: sales and after-sales, vehicle certification and testing, and model localization design and feature development.
BYD will create thousands of jobs in Budapest and provide training and education opportunities through cooperation with at least three Hungarian universities.
China is a leader in the field of electric vehicle (EV) technology, and a strategic partnership with China will help lead Hungary into the new era of EV technology, Orban said.
BYD completed its first European factory in Hungary in April 2016, which assembles electric buses.
In December 2023, BYD announced that it would build a passenger NEV production site in Szeged, Hungary, which will be constructed in phases and would create thousands of local jobs.
In January 2024, BYD signed a land pre-purchase agreement with the government of the city of Szeged for the passenger car plant.
BYD is supplying NEVs to Hungary through exports from China before local production begins.
The company launched its electric SUV (sport utility vehicle) Sealion 07, renamed Sealion 7 locally, in Hungary in February.
Other models BYD is currently offering in Hungary include the Atto 3, Dolphin, Seal, Seal U, Tang. The Atto 3 is the Yuan Plus in China, and the Seal U is the Song Plus EV.
BYD Shenzhen kicked off its maiden ocean voyage with over 7,000 BYD NEVs on April 27 and headed to Brazil.
