Chinaʼs BYD to invest HUF 6.2 bln in Hungary

Automotive

Wikimedia Commons/ Spielvogel

Chinese manufacturer BYD is planning to build a HUF 6.2 billion electric bus manufacturing plant in Hungary’s Komárom, its first in Europe, Minister of Foreign Affairs and Trade Péter Szijjártó announced yesterday, according to reports. The investment is being supported with a HUF 925 million government grant.

(Photo: Wikimedia Commons/ Spielvogel)

Once production starts early next year, as the company expects, annual output would reach 200 buses in the initial phase, Hungarian news agency MTI reported. The investment is predicted to create 300 workplaces in two stages, the Hungarian minister said.

The company decided to establish its assembly plant in Komárom because of its central geographical location, the knowledge and experience of local engineers and government measures that support growth, said BYD Europe Managing Director Isbrand Ho.

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