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China's BYD plans to establish European centre in Hungary, CEO says

Published by Global Banking & Finance Review

Posted on May 15, 2025

1 min read

· Last updated: January 23, 2026

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China's BYD plans to establish European centre in Hungary, CEO says
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BYD to Establish European Centre in Hungary, CEO Announces

BUDAPEST (Reuters) -Chinese electric vehicle giant BYD expects to establish a European centre in Hungary, CEO and President Wang Chuanfu said on Thursday at a news conference with Hungarian Prime Minister Viktor Orban in Budapest.

Hungary has cultivated deeper economic ties with China and the Chinese group had said in 2023 it would build a new energy vehicle production base in Hungary, creating thousands of jobs.

(Reporting by Anita Komuves, writing by Jason Hovet)

Key Takeaways

  • BYD plans to set up a European centre in Hungary.
  • The announcement was made by CEO Wang Chuanfu.
  • Hungary is strengthening economic ties with China.
  • The project will create thousands of jobs.
  • BYD's expansion aligns with its 2023 strategy.

Frequently Asked Questions

What is the main topic?
The main topic is BYD's plan to establish a European centre in Hungary, as announced by CEO Wang Chuanfu.
Why is BYD expanding to Hungary?
BYD is expanding to Hungary to strengthen economic ties and create jobs, aligning with its 2023 strategy.
Who announced the new centre?
The announcement was made by BYD's CEO and President Wang Chuanfu.

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