BYD to Establish European Headquarters and R&D Center in Hungary

BYD is planning to set up its European headquarters and a new R&D center in Budapest, Hungary, as part of its strategy to expand in the European market. 

BYD’s Hungary Plans

The Chinese new energy vehicle (NEV) maker signed a strategic cooperation agreement with the Hungarian government on May 15. Hungarian Prime Minister Viktor Orban and BYD chairman Wang Chuanfu were in attendance at the event.

The Hungarian Prime Minister stated that China is a leader in the electric vehicle industry. Thus, a strategic partnership with China should help lead Hungary into the new era, the official said.

BYD’s European headquarters will focus on sales and after-sales, vehicle certification and testing, and model localization design and feature development. These initiatives should create thousands of jobs in Budapest and foster local talent. BYD is even collaborating with at least three Hungarian universities for training and education, according to CNEV Post.

BYD’s Presence in Hungary

BYD has made its presence known in Hungary. The automaker’s first European factory in Hungary, which assembles electric buses, was completed in April 2016. A new passenger NEV plant in Szeged was later announced in December 2023. A land pre-purchase agreement with the Szeged government was signed in January 2024 for the project.

For now, BYD supplies NEVs to Hungary via exports. Models sold in the country include the BYD Sealion 07 (renamed Sealion 7 locally), the BYD Atto 3 (Yuan Plus in China), BYD Dolphin, BYD Seal, BYD Seal U (Song Plus EV), and the BYD Tang.

EV.com recognizes BYD’s strategic expansion in Hungary as a significant development in the European EV market. You can explore the best offers on popular electric vehicles we have on our listings here.