2023-12-22 16:06:10
BYD invests in Szeged
Written by Rainer Ackermann
This year, around 11 million electric cars will be sold worldwide, a quarter of which will bear the BYD logo. It is now official that the Chinese are building their first European automobile plant in Hungary, specifically in the Tisza metropolis of Szeged.
“After 224 rounds of negotiations, the decision has been made: Hungary has won the location competition; BYD, the world’s largest manufacturer of electric cars, is building its first European factory in Szeged,” Foreign Trade Minister Péter Szijjártó announced on Friday. The world is experiencing a technological revolution, “and Hungary is at the forefront.” Nothing comparable has happened to the country for a long time.
Foreign Trade Minister Péter Szijjártó spoke of one of the largest investments in Hungary’s economic history.
Future industry conquers Hungary
BYD is creating several thousand jobs in the automobile factory and bringing the most modern technologies in the future industry to Hungary. (Szijjártó paused briefly at this point to emphasize once again that no further battery factory is being built here, but electric cars will be manufactured.)
The minister did not reveal a specific investment amount on Friday, but spoke of “one of the largest investments in Hungary’s economic history”. The Chinese company is considered the second largest battery manufacturer behind CATL and holds around a quarter of the market share for electric cars. The BYD Group has around 630,000 employees worldwide and had sales of well over 50 billion euros by the end of September.
A big day for the city
Referring to the opposition-run city, the Fidesz minister noted: “We only have one economy, the success of which we must all strive for together. Regardless of our party affiliation and our political views.”
The mayor of Szeged, László Botka, was one of the most popular socialists in Hungary for decades, and since the end of 2019 he has been leading the city as a member of a local movement. “This day is a lucky day for our city and its residents,” said Botka when announcing the BYD decision.
Der Linkspolitiker und OB von Szeged, László Botka, pulls an einem Strang with Außenminister Péter Szijjártó (Fidesz).
Szeged has been conducting intensive negotiations with the Ministry of Foreign Trade and the investment promotion agency HIPA for months. It was a great pleasure that they were able to convince the investor of the advantages of the city of Szeged, for example in terms of its geographical location and its modern logistics infrastructure, directly on site at BYD in China. The mayor specifically highlighted the M5-M43 motorway junction.
Szeged is also a center of science and, in addition to the university, has high-quality schools and market-oriented vocational training. Botka sees environmental protection, sustainability and electromobility in harmony with each other in the project. The city has identified 300 hectares of land for the major investment and has started developing it. There is a cross-party political consensus in the city to support this BYD project.
BYD becomes a neighbor of the Science Park
BYD will build the new automobile factory in the immediate vicinity of the ELI-ALPS laser research center and science park. In Szeged, the Chinese group will realize full vertical integration, with the exception of battery cell production and chemical processes. The plant is intended to supply the entire European market with products.
At the beginning of November we last wrote about speculation about the Chinese company’s intensified involvement in Hungary.
The Chinese brand BYD holds a quarter of the global market for electric cars. BYD brings state-of-the-art manufacturing technologies to Hungary. Photos: screenshot
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