On May 15, BYD announced plans to invest approximately HUF 100 billion (about RMB 2 billion) to establish its European corporate headquarters and R&D center in Budapest, Hungary. On the same day, Hungary’s Minister of Foreign Affairs and Trade stated in Budapest that the government would provide HUF 20 billion in support for the total HUF 100 billion investment.
The new European headquarters and R&D center will create a total of 2,000 new jobs. It will be located in Budapest’s 11th district, adjacent to the Danube River, benefiting from excellent transportation links and a thriving industrial cluster. The facility will carry out three key functions: sales and after-sales services, vehicle certification and testing, and localized vehicle design and functionality development.
In terms of R&D, BYD’s European headquarters will initially focus on advanced driver-assistance systems and next-generation automotive electrification technologies. In the future, BYD plans to engage in joint research with at least three Hungarian universities and collaborate with local suppliers and businesses to upgrade the new energy vehicle (NEV) industry chain.
Building on Hungary’s strong automotive industry—the second largest EV manufacturing base in the world—BYD’s partnership with the country in green mobility began in 2016 with the establishment of the BYD electric bus plant in Komárom. This partnership deepened in late 2023 when BYD announced the construction of its first European NEV passenger car production base in Hungary.
The establishment of BYD’s European headquarters not only enhances its localization of products and services and strengthens brand presence, but also serves as a model of pragmatic cooperation between China and Europe under the Belt and Road Initiative.
In 2024, BYD maintained its global leadership in NEV sales, reaching 4.27 million units. While continuing high-quality global growth, the company is making significant breakthroughs in key European markets such as the UK and Italy, with steadily rising sales.
Looking ahead, BYD will continue to expand its footprint in the European market, working with top local partners to build an intelligent and green mobility ecosystem and contribute to the global energy transition and sustainable development.
Source：https://mp.weixin.qq.com/s/dNyXeRx9tNZiiTqxBst7DA
