In the evolving landscape of the global automotive and technology industries, the partnership between China and Hungary is gaining significant momentum. This burgeoning alliance is exemplified by recent strategic initiatives in the electric vehicle (EV) sector.
In January, Chinese automaker BYD signed a land pre-purchase agreement with the government of Szekszard, marking a pivotal step in its European localization efforts. The following month, BYD delivered its first batch of ATTO 3 electric cars in Hungary, expanding its presence in the Central and Eastern European market.
Located at the heart of Europe, Hungary boasts a rich history in automotive development, supported by advanced infrastructure and a mature industrial base. In 2016, the Hungarian government launched an electric vehicle development plan aimed at boosting EV production.
“The electric vehicle industry in Hungary has a solid foundation,” said Chinese Ambassador to Hungary Gong Tao. “Complementing this, China possesses advanced technology, a vast market, and a mature industrial chain in the global new energy industry.”
Since entering Hungary’s passenger car market, BYD has rapidly expanded its footprint in the region. The company’s initiatives are expected to fuel Hungary’s long-term economic prosperity, as noted by Foreign Minister Peter Szijjarto, who described BYD’s investment as “one of the largest in Hungarian economic history.”
“BYD’s new energy vehicle production facility marks a significant milestone in China-Hungary collaboration on green development and the digital economy,” remarked Gong. “It is anticipated to generate thousands of local jobs, enhance Hungary’s status as a new energy vehicle hub in Central and Eastern Europe, and support the country’s push towards energy transition and carbon neutrality.”
BYD initially established its presence in Hungary with an electric bus manufacturing plant in Komarom, announced in 2016 as the first European factory by a Chinese new energy company. The facility began production the following year, laying the groundwork for future collaborations.
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China and Hungary nurture a deepening technological partnership
cgtn.com
