Chinese E-vehicle Giant Expands Influence in EU via Hungary

The Hungarian government announced on Thursday that Chinese e-vehicle company BYD will open a European center in Hungary, creating 2,000 new jobs.

Hungary, with a population of 9.6 million, has attracted a significant number of major Chinese projects in recent years, mostly in the battery and electric vehicle manufacturing sectors.

Foreign Minister Péter Szijjártó said in a statement following a signing ceremony attended by the company's CEO, Wang Chuanf, that BYD has decided to open its European Corporate and Development Center in Budapest, with an investment of 100 billion Hungarian forints (€248 million).

He added that 2,000 new jobs will be created, 90 percent of which will be filled by workers with higher education qualifications, mostly in engineering.

The group is headquartered in Hungary, where it is scheduled to open its first European factory producing electric vehicles by the end of 2025, making it the first Chinese company to manufacture passenger cars in Europe.

China's electric vehicle exports are causing tensions with the European Union, which in 2023 opened an investigation into allegations of subsidies to Chinese companies.