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One of the world's largest electrical vehicle manufacturers, China's BYD, will open its first European EV production factory in Hungary, the country's foreign minister said Friday, the latest step in the Central European nation's efforts to become a global hub for EV manufacturing. BYD will construct the plant near the southern Hungarian city of Szeged, and is expected to provide thousands of jobs to the region, Foreign Minister Péter Szijjártó said in a statement posted to his Facebook page. The plant's construction will “further strengthen the...

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One of the world’s largest electrical vehicle manufacturers, China’s BYD, will open its first European EV production factory in Hungary, the country’s foreign minister said on Friday

The announcement comes as Hungary continues to try to position itself as a global hub for EV manufacturing.

China's BYD, will open its first European EV production factory in Hungary.