BYD’s Factory in Europe Will Become Operational Soon!

🟢 The Chinese manufacturer announced that it would establish an electric car factory in Hungary last month. The company signed a land purchase agreement at a ceremony in Shenzhen and Budapest yesterday. It was shared that the factory will be operational in three years.

🔋The factory in Segedin is expected to start production in the first half of 2026. It will allow duty-free electric vehicle sales in Europe and Turkey.

🚗 Electric and plug-in hybrid vehicles of BYD exports reached 243,000 in 2023. The company plans to break a new record with 400-500 thousand in 2024.

🔌BYD’s factory investment is not limited to Hungary. The company also started production at its Uzbekistan facility last week. It will put its Thailand factory into operation with a capacity of 150,000 this year. While investments are being made for electric car production in Brazil, a move to Indonesia for another export-oriented factory is on the agenda.