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The current agreement with BYD means that the cars of the future will also be manufactured in Hungary, the Prime Minister stressed on Thursday in Budapest after receiving Wang Chuanfu, BYD’s chairman and CEO, and Wang Weizhong, Governor of Guangdong, China, in his office. They announced that the Chinese company is relocating its European headquarters to Hungary.
After signing the strategic cooperation agreement with BYD, Viktor Orbán recalled that in 1990, Hungary successfully joined the global car manufacturing industry and established a solid industrial and technological base. However, he added that we are now living in a time of change, with new technologies, new consumer demands, and new manufacturers emerging, and that we Hungarians do not want to be left out of this new era. “We have made a strategic decision that Hungarian industry must become involved in electromobility,” he stated.
He also said that market, short-term, and cyclical effects would not influence this strategic decision. When introducing a new technology, there are always ups and downs, and these must be endured. The important thing is that we know this is the future, and Hungary must not be left out of this future, he emphasized.
The Prime Minister stated
that it is inconceivable for Hungary to enter a new technological era of electromobility solely on its own.
To do this, we need partners, and we can only enter this new era if there is strategic cooperation between China and Hungary, as China is the leader in this industry, he reminded, adding that Hungarian-Chinese relations are currently at their most intense.
Hungary will also produce the cars of the future declared @PM_ViktorOrban as BYD brings not just production but its development center to Hungary.
PM Orbán emphasized: Our aim is that foreign investors bring not just manufacturing capacity, but also development… pic.twitter.com/8bvNRgBU37
— Zoltan Kovacs (@zoltanspox) May 15, 2025
Hungary, located in the heart of the European continent, has a long history in the automotive industry, well-developed infrastructure, and a mature industrial base, and is one of the world’s automotive hubs, said Wang Chuanfu.
The BYD chairman and CEO emphasized that this step is not only an important milestone in the company’s development, but also tangible proof of practical Chinese-Hungarian cooperation within the framework of the Belt and Road Initiative.
He recalled that BYD was founded in 1994, in Guangdong Province, “on the wings of the reform and opening-up policy,” and by seizing the development opportunities offered by new energy vehicles, the company has become the world’s largest manufacturer of such vehicles. He noted that last year they sold 4.27 million new energy vehicles (NEVs), maintaining their leading position in the global NEV market, while ranking sixth in terms of total vehicle sales. The company continues to grow rapidly in the first quarter of this year. Mr. Chuanfu also noted that Hungary has attracted many global brands that have invested in building the world’s most advanced and high-quality new production lines in the country.
In his assessment, BYD is fortunate to be able to participate in Hungary’s economic and social development. From the launch of mobile phone component manufacturing in 2005, to the start of electric bus production in 2016, and now the establishment of a new energy-powered vehicle manufacturing base, the cooperation between the two parties has been continuously deepening and developing.
The latest step in this cooperation is BYD’s decision to locate its European headquarters in Hungary.
The headquarters will create around 2,000 new jobs and will perform three main functions. These are sales and after-sales services, vehicle certification and testing, and vehicle model design and function development,
Chuanfu explained.
L-R: Governor Wang Weizhong, BYD CEO Wang Chuanfu, Prime Minister Viktor Orbán, and BYD vice-president Stella Li. Photo: MTI/Miniszterelnöki Kommunikációs Fõosztály/Fischer Zoltán
Wang Weizhong, Governor of Guangdong, expressed his delight at being able to witness the establishment of BYD’s European headquarters in Budapest. He emphasized that this is a very important step in the company’s international development, highlighting that the new headquarters is one of the outstanding results of the economic, trade, and investment cooperation between the province and Hungary.
He emphasized that economic and trade cooperation between China and Hungary has accelerated significantly in recent years, with foreign trade between the two countries growing by about 10 percent annually, and Guangdong Province accounting for about 10 percent of bilateral trade between the two countries. In the first three months of this year, the province exported more than eight billion Chinese yuan worth of goods to Hungary. Companies from Guangdong Province have also made several investments in Hungary, providing livelihoods for around 10,000 people, Weizhong added.
Foreign Minister Péter Szijjártó said that BYD’s announcement represents an investment of around HUF 100 billion (EUR 248.3 million, for which the government will provide HUF 20 billion (EUR 49.6 million) in support.
A total of 2,000 new jobs will be created in this new European headquarters and development center. And 90 percent of these two thousand jobs will be filled by employees with higher education, who basically have engineering degrees,”
he added.
Mr. Szijjártó also mentioned that under the strategic agreement signed with the company, university students and researchers participating in Hungarian PhD programs, as well as Hungarian students participating in dual vocational training, will be employed at the Budapest development center. “At least 50 percent of the patents created here will be registered in Hungary, and they have committed themselves to working with as many Hungarian companies as possible as suppliers,” he explained.
Via MTI, Featured photo via MTI/Miniszterelnöki Kommunikációs Fõosztály/Fischer Zoltán