Chinese electric vehicle maker BYD is standing by its decision to build its first European car factory in Szeged, Hungary, and has not made any changes to its original investment and production schedule, said István Joó, the government’s commissioner for strategic investment and CEO of HIPA, Hungary’s investment promotion agency.
Reacting to recent media reports, Joó dismissed claims that BYD had delayed its Hungarian plans in favour of expanding production in Turkey, calling the reports fake news in a statement posted to social media. He emphasized that BYD’s central office had reconfirmed on Tuesday that work in Szeged is progressing at full speed.
The factory project, announced in December 2023 after 224 rounds of negotiations, marks BYD’s largest investment in Europe to date. Construction began in 2024 on a 300-hectare site in Szeged and is expected to create thousands of high-value jobs. Local suppliers are also expected to benefit significantly from BYD’s presence in the region.
Further underlining its long-term commitment to Hungary, BYD is relocating its European business headquarters from the Netherlands to Budapest. The move is set to create at least 2,000 jobs for highly qualified professionals in marketing, human resources, and data analysis. In addition, the company is launching two major R&D projects worth a combined 250 million euros in partnership with Hungarian universities.
One of these, a 105 million euro initiative, aims to develop an AI-based driving technology that allows vehicles to learn autonomously by analysing real-time data from various traffic situations. The second, valued at 141 million euros, focuses on advancing BYD’s electric drivetrain technology to improve the performance and energy efficiency of its vehicles.
Meanwhile, BYD’s Komárom facility—operational since 2017—will soon expand its production to include electric trucks alongside buses. This development will bring 620 new jobs and introduce new products and advanced technologies to the Danube-side town.
These expansions underscore BYD’s broader European ambitions and solidify Hungary’s role as a central pillar in the company’s growth strategy on the continent.
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Author: Ádám Bráder
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