Chinese electric vehicle powerhouse BYD (002594.SZ) is reportedly making strides toward establishing its maiden car manufacturing facility in Europe, with Hungary emerging as the prospective host, as per revelations from German newspaper Frankfurter Allgemeine Sonntagszeitung (FAS), citing anonymous sources said to be close to BYD. The reported decision is believed to have been internally finalized.
A government portal in Shenzhen, the headquarters of BYD, had previously disclosed that Hungarian Prime Minister Viktor Orban engaged in discussions with BYD’s Chairman and President, Wang Chuanfu, during a visit to the company last month.
In response to inquiries from Reuters, BYD conveyed that it is still in the process of pinpointing the optimal location for its European production venture and intends to unveil an official announcement on this matter by the year’s end.
Requests for comments from the Hungarian government have not yet received immediate responses.