BYD to build first European car plant in Hungary

Chinese electric car maker BYD will build its first plant in Europe at Szeged, in southern Hungary, the minister of foreign affairs and trade said on Friday.

The foreign ministry quoted Peter Szijjarto as calling the project “one of the most significant investments in the history of Hungary’s economy creating thousands of jobs”. The new plant will be Hungary’s sixth car producer, he added.

The Hungarian government will provide a grant to assist the project, Szijjarto said, but added that the exact amount would not be disclosed before the European Commission granted its consent.

The new project will further strengthen the Hungarian economy, “the foundations for long term growth, and Hungary’s position in the

global transition to electric cars”, the minister said.

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