Prime Minister Viktor Orbán made the declaration following a high-level meeting with BYD President and CEO Wang Chuanfu, marking a milestone in Hungarian-Chinese cooperation under the Belt and Road Initiative.
“This investment proves that our big plan is working,” said Prime Minister Orbán, emphasizing that Hungary is not merely keeping pace with the global automotive transformation, but positioning itself at its forefront. The decision by BYD to locate its European center in Hungary will generate around 2,000 new jobs and will include design and development operations in addition to manufacturing.
The agreement, signed by Minister of Foreign Affairs and Trade Péter Szijjártó and BYD Vice President Stella Li, represents a strategic cooperation between Hungary and BYD, one of the world’s leading producers of electric vehicles. According to officials, the move is not just an industrial win—it demonstrates Hungary’s increasing role in the global electric mobility sector.
Wang Weizhong, the leader of Guangdong Province, highlighted that the partnership is a tangible outcome of Hungary’s involvement in China’s Belt and Road Initiative. “BYD is fortunate to be part of Hungary’s economic development,” he noted, pointing to the untapped potential in Chinese-Hungarian collaboration.
Prime Minister Orbán recalled his visit to China two years prior and affirmed that bilateral ties have only strengthened since. “In the 1990s, Hungary successfully integrated into the global car manufacturing industry. But today, we must talk about the future, because we are in the midst of a technological transition,” he said. Hungary, he emphasized, does not intend to be a bystander in this shift.
The prime minister underscored the necessity of engaging with new technologies and forging alliances with leading global players. “Hungarian industry must become part of electromobility,” he stated. Highlighting the role of China as a world leader in this technology, he stressed that partnership is essential: “We cannot succeed on our own. Only Hungarian-Chinese cooperation can make us competitive.”
Hungary’s strategy, he explained, is one of pragmatic connectivity—establishing strategic partnerships and enhancing the resilience of the national economy. Today, China stands among the top three investors in Hungary, alongside the United States and Germany.
Beyond the automotive sector, Chinese investment is fueling Hungary’s economic growth through infrastructure projects like the Budapest–Belgrade railway and the V0 freight corridor. Prime Minister Orbán reiterated Hungary’s opposition to tariffs against China and called for a return to mutual respect in international cooperation.
“This development is a qualitative leap,” the prime minister concluded. With BYD’s center bringing high-value jobs and advanced technology, Hungary is setting its sights on becoming a key hub in Europe’s electric vehicle future.
