BYD Expands Operations in Hungary Following Government Announcement
Chinese car manufacturer BYD is set to establish a significant presence in Hungary, acquiring office space in Budapest and building a new factory in Szeged.
On Thursday, Viktor Orbán announced that Chinese electric vehicle manufacturer BYD will relocate to Hungary.
The announcement coincides with plans to commence construction on key infrastructure projects, including the Budapest–Belgrade railway, the V0 railway ring, and an oil pipeline connecting Serbia and Hungary, in collaboration with Chinese partners.
In a development reported by Colliers, a real estate consulting firm, BYD has secured a site for its future office at the IP West office building, located near BudaPart and Infopark in Budapest.
This office space spans over 30,000 square meters.
According to plans, BYD's Budapest headquarters will employ approximately 2,000 staff.
The sale of the IP West office building was confirmed by CA Immobilien Anlagen, marking it as a significant transaction in the Hungarian real estate market.
Keegan Viscius, CEO of CA Immo, stated that the successful completion of the IP West sale represents a strategic withdrawal from the Hungarian market.
He emphasized that the transaction will allow the company to reinforce its commitment to main markets and sharpen strategic focus.
The IP West office building includes around 32,100 square meters of leasable office space and approximately 800 parking spaces.
It is situated in Budapest’s XI District, in South Buda, located west of the Danube River between the Petőfi and Rákóczi bridges.
The transaction involved CA Immo, CBRE, and CERHA HEMPEL Rechtsanwälte, with Colliers representing the Hungarian side.
BYD is also set to launch its first European factory in Szeged, a development expected to become one of the most significant investments in Hungarian economic history.
Reports indicate that the factory will require an investment of approximately $4.5 billion and is projected to produce 200,000 vehicles annually starting at the end of 2025. Plans extend production capacity further to 350,000 units.
The factory will be established on a 300-hectare site on the outskirts of Szeged, with the first vehicles anticipated to roll off the production line in the second half of 2025.
The announcement coincides with plans to commence construction on key infrastructure projects, including the Budapest–Belgrade railway, the V0 railway ring, and an oil pipeline connecting Serbia and Hungary, in collaboration with Chinese partners.
In a development reported by Colliers, a real estate consulting firm, BYD has secured a site for its future office at the IP West office building, located near BudaPart and Infopark in Budapest.
This office space spans over 30,000 square meters.
According to plans, BYD's Budapest headquarters will employ approximately 2,000 staff.
The sale of the IP West office building was confirmed by CA Immobilien Anlagen, marking it as a significant transaction in the Hungarian real estate market.
Keegan Viscius, CEO of CA Immo, stated that the successful completion of the IP West sale represents a strategic withdrawal from the Hungarian market.
He emphasized that the transaction will allow the company to reinforce its commitment to main markets and sharpen strategic focus.
The IP West office building includes around 32,100 square meters of leasable office space and approximately 800 parking spaces.
It is situated in Budapest’s XI District, in South Buda, located west of the Danube River between the Petőfi and Rákóczi bridges.
The transaction involved CA Immo, CBRE, and CERHA HEMPEL Rechtsanwälte, with Colliers representing the Hungarian side.
BYD is also set to launch its first European factory in Szeged, a development expected to become one of the most significant investments in Hungarian economic history.
Reports indicate that the factory will require an investment of approximately $4.5 billion and is projected to produce 200,000 vehicles annually starting at the end of 2025. Plans extend production capacity further to 350,000 units.
The factory will be established on a 300-hectare site on the outskirts of Szeged, with the first vehicles anticipated to roll off the production line in the second half of 2025.
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