In just a few weeks, the BYD factory in Szeged (southern Hungary), which is expected to be in production in a year’s time, has started to take shape in a very impressive way. On October 28, a drone video of the work was uploaded to YouTube, Világgazdaság pointed out.
The municipality handed over the second part of the site for the construction of the electric car plant of the BYD factory in Szeged less than two weeks ago, but the future complex is already looking amazing.
BYD announced late last year that it would invest billions of euros to build its first European car plant in Szeged, which will be capable of producing 300,000 cars a year.
The Chinese company is building its electric car factory in a 300-hectare industrial park on the outskirts of the city, next to the ELI-ALPS laser research institute, from where it will serve the European market. The Chinese automotive giant, which will create thousands of new jobs, will carry out the entire manufacturing process here, with the exception of battery production and chemical activities.
The plant is expected to start production at the end of this year, which is a big deal because it will be the first Chinese-owned plant to produce passenger cars in Europe.
However, the future of the Chinese company is overshadowed by the faltering automotive industry and the unfolding tariff war between the Asian country and the EU. There is a good chance that BYD’s plant in Szeged will avoid the punitive tariffs, just as the plant may respond to the decline in demand for electric cars by producing hybrid cars.
Fact
BYD Auto Hungary, the company behind the electric car plant planned for Szeged, has been registered with a share capital of around HUF 192 billion (EUR 501 million). The first two halls of the factory will be built in a 300-hectare industrial park on the outskirts of the city, next to main road 5. In addition, the government has committed to spending HUF 47-48 billion (EUR 122-125 million) on infrastructure development near the new state-of-the-art plant.
BYD Auto, founded in 2003, is the world’s first car manufacturer to stop producing fossil-fueled vehicles during the electric transition and has led the sales of plug-in passenger vehicles, new energy vehicles (NEVs) in China for 9 consecutive years.
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Via Világgazdaság; Featured image via MTI/Balogh Zoltán
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