BYD will establish its first European vehicle factory in Szeged, Hungary, aiming to produce around 200,000 vehicles annually by the second half of 2025. This move is part of BYD's strategy to enhance its presence in Europe despite ongoing trade tensions over tariffs on Chinese electric vehicles.
Additionally, BMW is set to commence operations at its new plant in Debrecen by the end of next year. Initially announced with a €1 billion investment, BMW has since doubled this amount to also include battery assembly for its new generation 'Neue Klasse' models.