According to the Hungarian government, the project is expected to create around 2,000 high-quality jobs. The new BYD headquarters will be located in the “IP West” office complex in Újbuda, where the company will coordinate sales, customer service, vehicle certification, and the development of region-specific models for the European market.
BYD has been present in Hungary since 2016, when it opened its first European facility — an electric bus assembly plant — in the city of Komárom in northwestern Hungary. A second plant dedicated to electric vehicle production is currently under construction in the country.
Under Prime Minister Viktor Orbán’s leadership, Hungary has become a key trade and investment partner for China, in contrast to some other EU countries that are seeking to reduce their economic reliance on the world’s second-largest economy.
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BYD aims to double its overseas vehicle sales to over 800,000 units by 2025, a goal it intends to reach in part by establishing local assembly operations to by import tariffs. This was confirmed by BYD Chairman Wang Chuanfu during a recent earnings call with analysts.
In 2024, BYD sold 417,204 vehicles outside China. The company expects a “significant increase” in market share in the United Kingdom, which it described as “very open” to competitive Chinese products. BYD also sees “great opportunities” for rapid growth in Latin America and Southeast Asia, where both governments and consumers show a strong openness to Chinese brands.
Source: www.byd.com
