Chinese electric cars to be built in Hungary

A pro-government author welcomes the giant Chinese investment project Hungary has almost certainly snitched from Germany.

On the Mandiner website, Béla Ákos Révész takes it for granted that after PM Orbán’s visit to China, Shenzhen-based electric vehicle giant BYD has chosen Hungary as the site of its first European automobile plant in Europe. BYD buses are already being made in Komárom, northern Hungary and BYD electric cars have just started to be sold in Budapest, but the new electric car plant will be a huge project even by international standards, he writes. The official announcement is expected before the end of the year. Révész mentions that Germany has fought hard to lure BYD to its traditional industrial Rhine region, but the Chinese side has apparently found Hungary’s eastern opening more attractive. The share of East Asia in direct foreign investment in Hungary has risen from 12 to 30 percent over the past 13 years, he remarks and quotes government sources that expect FDI to double by 2030.

Tags: automotive industry, China, Orbán