BYD European EV Factory

China is a country that is revolutionizing the automotive world. In short, China is the country with the largest automotive market in the world. So, today through MotorGuide weekly news, we are telling you about another big step China has taken in the automotive market.

China's BYD, one of the world's largest electric vehicle manufacturers, is set to open its first European EV production factory in Hungary, according to the country's Foreign Minister. They state that this will make them the first Chinese company to produce cars in Europe.

BYD has decided to build this factory near Szeged, a city in southern Hungary. Foreign Minister Péter Szijjártó stated in a post on his Facebook page that this is expected to create thousands of new jobs.

He further added that this project will be one of the largest investments in Hungarian economic history. He also mentioned that the government would provide financial incentives to BYD for the construction of the plant, and details would be released later.