BYD Establishes European Headquarters and R&D Center in Hungary

In a significant move for the electric vehicle market, BYD, a major player in the industry, has officially announced the establishment of its European headquarters and a new research and development (R&D) center in Hungary. This announcement came during a joint press conference held in Budapest with Hungary's Prime Minister Viktor Orbán on May 21, 2025.

BYD's decision to set up its headquarters in Hungary highlights the country's growing importance as a hub for electric vehicle production and innovation in Europe. The new facility is expected to create nearly 2,000 jobs in various sectors, including sales, after-sales services, testing, certification, and local vehicle development.

The company’s president and CEO, Wang Chuanfu, emphasized that this venture signifies a strengthening of Chinese-Hungarian cooperation and represents a 'natural progression' in BYD's efforts to expand its footprint across Europe. Currently, Hungary serves as a critical manufacturing center for various automakers, and this new investment will further its position in the burgeoning electric vehicle sector.

Wang stated, “Our aim is to deepen the collaboration between foreign investors and Hungary, bringing essential development capabilities to the country.” This sentiment was echoed by Prime Minister Orbán, who noted the importance of attracting foreign investment to bolster Hungary's local industry. The government aims to leverage this opportunity to transform Hungary into a key player in the electric vehicle market, diversifying its automotive sector, which has traditionally relied on conventional vehicles.

The new headquarters will be BYD's fifth major site in Hungary, complementing existing facilities such as the bus manufacturing plant in Komárom and additional operations in Fót, Páty, and Szeged, where a new facility for passenger vehicle production is currently under development. BYD's expansion aligns with the global trend toward greener transportation, and Hungary's proactive initiative in supporting electric vehicle technology promises to create an attractive ecosystem for such investments.

Last year, BYD achieved remarkable success, selling over 4.27 million electric vehicles globally, securing its position as the world's top-selling electric vehicle brand. The company's swift expansion into European markets, including a notable sales figure of over 11,000 vehicles across 14 countries in just one month, showcases its growing dominance, surpassing competitors such as Tesla.

The new headquarters is anticipated to catalyze local innovation in electric vehicle technology, helping Hungary enhance its R&D capabilities. With the automotive industry rapidly evolving towards electrification, BYD's investment could provide a much-needed boost to Hungary's technological landscape, fostering collaboration between local firms and international experts.

In conclusion, BYD's establishment of its European headquarters and R&D base in Hungary is a significant step toward enhancing the electric vehicle market's infrastructure in Europe. It reflects the increasing relevance of Hungary in the global supply chain for electric vehicles and demonstrates the potential for further collaboration between Chinese firms and European nations. As the world moves towards greener energy solutions, such initiatives will play a crucial role in shaping the future of urban transportation and economic growth in Hungary.