The Hungarian Foreign Minister underlined that Germany's biggest car companies are also against the proposal.Continue reading
BYD’s factory in Szeged (southern Hungary), currently under construction, could start production two to three months earlier than planned, with the first models potentially ready to roll off the production line in the autumn of 2025, Index reports.
China’s electric car giant announced in December 2023, that they would choose Szeged as the site for its first European factory. A year ago, in February 2024, preparations for the construction of the Szeged factory began, and construction work has been going on in full swing ever since. Although the most optimistic scenario earlier suggested that the first cars could roll off the assembly line at the end of the year, Index, citing Automotive News Europe, reports that
production could start as early as October.
BYD Dolphin will be among the first models to be produced in Szeged. Photo: Facebook/BYD Magyarország
Automotive News Europe writes that
the rush is necessary because BYD currently pays a 30 percent tariff on cars imported from outside the European Union, in addition to transport costs.
Cars assembled at the Szeged plant will be exempt from EU tariffs on electric vehicles made in China.
Reportedly, BYD is also looking to build a European supply chain for its upcoming Hungarian and Turkish factories,
with the company’s management meeting 300 Italian suppliers in Turin on February 20-21. Currently, BYD produces 70 percent of its components in-house in China, but will initially lack the capacity to do so in Europe, the automotive news portal points out.
Preparations for the construction of the 300-hectare e-car plant in Szeged started just a year ago, in February 2024, when the investment received the permits for the deep foundations of industrial buildings. In June, the first consignment of construction materials arrived, which were shipped to European ports and then transported by rail to the PSP Terminal in Szeged-Kiskundorozsma. Hungary’s largest industrial investment is currently underway in the southern Hungarian city, with the project worth up to €5 billion, creating 8-10,000 jobs.
Via Index, Featured image: Hungary Today
