BYD to Construct Battery Plant in Fót
Image by T. Schneider / Shutterstock.com
China's BYD, the world's biggest electric vehicle maker, will set up a battery assembly plant in Fót (20 km northeast of Budapest), Minister of Foreign Affairs and Trade Péter Szijjártó said in Shenzhen, China, on Wednesday, according to origo.hu.
The investment, which will create a hundred jobs initially, is supported with a HUF 1 billion government grant, the minister said.
Szijjártó noted that BYD, the world's second-biggest EV battery maker, manufactures electric buses in Komárom (85 km northwest of Budapest).
These buses account for around 80% of the vehicles in the public transport of London and have a market-leading position in Hungary, he added.
In China, Szijjártó met with the mayor of Shenzhen, the founder of battery maker Sunwoda and the CEO of BYD.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.