In a significant move within the global automotive and technology landscape, China and Hungary are deepening their technological partnership, particularly in the electric vehicle (EV) sector. This evolving alliance is highlighted by recent strategic initiatives spearheaded by Chinese automaker BYD.
In January this year, BYD signed a land pre-purchase agreement with the government of the Hungarian city of Szekszard, marking a pivotal step in its efforts to localize operations in Europe. The following month, BYD delivered its first batch of ATTO 3 electric cars to Hungary, expanding its market presence in the Central and Eastern European region.
Hungary, located at the heart of Europe, boasts a long-standing history in automotive development, supported by robust infrastructure and a mature industrial base. In 2016, the Hungarian government launched an electric vehicle development plan aimed at increasing EV production, laying a solid foundation for future growth.
\"The electric vehicle industry in Hungary has a solid foundation,\" stated Chinese Ambassador to Hungary Gong Tao. \"Complementing this, China possesses advanced technology, a vast market, and a mature industrial chain in the global new energy industry.\"
Since entering Hungary's passenger car market in October 2023, BYD has rapidly established its footprint in the region. By December, the company announced plans to build its first European EV factory near Szeged in southern Hungary. Hungarian Foreign Minister Peter Szijjarto described this initiative as \"one of the largest investments in Hungarian economic history,\" anticipating it will drive the country’s long-term economic prosperity.
\"BYD's new energy vehicle production facility in Szeged marks a significant milestone in China-Hungary collaboration on green development and the digital economy,\" said Ambassador Gong. \"It is anticipated to generate thousands of local jobs, boost Hungary's stature as a new energy vehicle hub in Central and Eastern Europe, and bolster the country's push towards energy transition and carbon neutrality.\"
BYD initially established its presence in Hungary with a bus manufacturing plant in Komarom, announced in 2016 as the first European electric vehicle factory by a Chinese new energy company. The facility was completed and commenced production the following year, laying the groundwork for subsequent expansions.
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China and Hungary nurture a deepening technological partnership
cgtn.com
