"Hungary has been awarded the contract in the race for a new BYD location. An agreement has been reached on the first factory for battery-powered cars in Europe, the Chinese manufacturer announced.
The Chinese electric car manufacturer BYD is building its first battery-powered car factory in Europe in Hungary.
The company announced this. BYD thus confirmed a report in the Frankfurter Allgemeine Sonntagszeitung. This reported in November that BYD had made the internal decision to use Hungary as a production location. At the time, the company did not want to comment on this.
BYD is currently the fastest-growing manufacturer of electric cars in the world and is now on a par with the American global market leader Tesla.
Now the manufacturer also wants to gain a foothold in Europe.
So far, however, sales figures have been low.
According to the company, the planned new BYD factory will be built in the city of Szeged in southern Hungary.
It will produce electric cars for the European market and create thousands of jobs, it said.
Completion not before 2026
BYD initially did not provide any further information on the size of the planned plant. Auto analysts at asset manager Bernstein predicted on Friday that the factory would be designed for annual production of around 200,000 vehicles and would probably be completed in two to three years. However, it is questionable whether the production site will be sufficiently utilized at the beginning. A gradual build-up of production is expected.
Experts predict that BYD could become an important competitor in the long term, especially for volume manufacturers such as Volkswagen, Opel owner Stellantis and Renault in Europe. BYD is already a leader in its Chinese home market.
The Chinese manufacturer's move comes a few months after Brussels announced it would investigate government subsidies for Chinese electric car makers. A European production facility could help BYD avoid the resulting punitive tariffs on electric vehicles imported from China.
BYD has been producing electric buses in the Hungarian city of Komarom for several years.
Several European countries, including Germany and France, had tried to locate the BYD car factory because they expected further investment and job creation. In Saarland there was hope that the Chinese could take over a factory owned by the US manufacturer Ford, whose future is uncertain." [1]
Who hopes to steal Chinese technology and try to get a job in this factory, ask about the opportunity to sweep the floor. Lithuanian Foreign Minister Gabrielius Landsbergis and President Gitanas Nausėda are only suitable for this. Their foreign policy towards China, Russia and Belarus is appallingly ignorant.
1. BYD baut neue Elektroauto-Fabrik in Ungarn. Frankfurter Allgemeine Zeitung (online)Frankfurter Allgemeine Zeitung GmbH. Dec 22, 2023.
Komentarų nėra:
Rašyti komentarą