Chinese electric vehicle (EV) maker BYD signed a preliminary sales and purchase agreement with the municipality of Szeges in Hungary for the land that will be used for its new plant, the company announced on Wednesday, marking a step forward in BYD’s localization in Europe.
BYD announced in December 2023 that it would build an EV manufacturing plant in Szeges, making it the first Chinese car maker to build a passenger car plant in the EU.
The plant is expected to start operation in three years, and it will focus on producing passenger cars for the European market. The construction of the plant will create thousands of local jobs and will support Hungary’s green economy transformation, said BYD.
