BYD plans to build a second factory in Europe
According to a report by the news agency Reuters, the Chinese auto and battery company BYD plans to establish a second assembly plant for vehicles in Europe, in Hungary. This was announced by Europe chief Michael Shu at an event in London for the upcoming year. The company aims to become a leading electric vehicle manufacturer in Europe by the end of the decade. He also confirmed the launch of the compact model Seagull in Europe, which is expected to cost less than 20,000 euros.
In December, the Chinese had announced the construction of a factory in Hungary, which was highlighted by the recent visit of Chinese President Xi Jinping to Hungarian Prime Minister Viktor Orban. The right-wing populist government, which advocates a so-called "illiberal democracy," has strongly aligned itself with China as a trading partner, taking the opposite course to EU countries like Germany, which seek to reduce dependence.
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