China-based electric vehicle manufacturer BYD is considering opening a localized production site in Hungary as it continues its foray into the market of Europe. Despite multiple reports pointing to the negotiations taking place, this information remains to be confirmed.
The website of Shenzhen City, where BYD headquarters are located, has posted a brief news article about the recent meeting of Viktor Orbán, Prime Minister of Hungary, and Wang Chuanfu, BYD CEO. The automaker has since released a statement saying the destination for the company’s first production site in Europe has yet to be chosen and that more details will be revealed in late 2023.
BYD is already selling a variety of electric cars on the Old Continent. Examples include the Atto 3, Dolphin, Han, Seal, and Tang. The company VP, Stella Li, let it slip in February this year that BYD was interested in localizing the production in Europe.
Earlier reports had claimed that the Chinese automaker wanted to buy out Ford’s industrial capacities in Saarlouis, Germany, but the executives must have reasoned that building new facilities from the ground up would be more viable.
In late spring, reports came in that BYD was considering Germany, Spain and France as the possible destinations for its first factory in Europe. These have neither been confirmed nor denied by the manufacturer.