BYD will expand its production footprint in Europe with a new facility in northern Hungary. The company plans to invest 32 billion forints (approximately $94 million) in the construction of a new plant in Komárom, tripling its local production capacity to 1,250 electric buses and trucks annually, as reported on Reuters and other media. The investment was also celebrated by BYD itself with a video on its Youtube channel.

The announcement was made by Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó, who emphasized the strategic value of the partnership between Hungary and China. “We Hungarians do not consider East-West cooperation a threat, but rather an opportunity, a big opportunity,” Szijjártó said, adding that the Hungarian government will support the project with a 3.1 billion forint grant (around 7.7 million euros).

BYD bus assembly plant in Komárom started operations in 2017, and now is the only foreign-owned bus factory in a country which has a huge heritage in bus and coach manufacturing.

(Sustainable Bus)