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Government States Chinese BYD Automotive Plant is One of the Most Important Investments in Hungarian Economic History

Leadership of the Chinese BYD automotive company held discussions with Hungarian Prime Minister Viktor Orbán on Saturday.
Prime Minister Viktor Orbán welcomed the leadership of the Chinese BYD automotive company on Saturday at the Carmelite Monastery, reviewing the status of the corporation’s investments in Hungary, reported Deputy State Secretary Bertalan Havasi, who heads the Prime Minister’s Press Office. Havasi reminded that one of the most significant investments in Hungarian economic history is arriving in Hungary, as the world’s largest electric vehicle manufacturer, China's BYD, is constructing its first European automotive plant in Szeged. According to him, thanks to this multi-billion euro investment, which also brings technological transformation, thousands of jobs will be created, and local suppliers will benefit from BYD’s presence.

During the meeting, Prime Minister Orbán stated that the government’s intention is to realize not only an economic policy development in Szeged but also to ensure that the people living there feel the positive impacts in their daily lives. For this purpose, infrastructure development worth several billion forints will commence, affecting the road network, utilities, and community services. Both parties emphasized that Hungary has been China's number one investment destination in Central and Eastern Europe for years. Over the past decade, Hungary has established a predictable, stable relationship system with China, based on mutual respect, and each year significant records are broken in economic and trade cooperation.

Our colleague photographed Wang Chuanfu, the Chairman and CEO of BYD, building the automotive plant in Szeged, as he was leaving the Ministry of Foreign Affairs and Trade. The Chinese businessman, estimated to have a fortune of 13.8 billion dollars, has reportedly come to Hungary to personally deliver the first BYD electric vehicles sold here to local customers at the Puskás Arena.

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