BYD to postpone launch of car production at plant in Hungary - Reuters
The largest Chinese manufacturer of electric cars and hybrids BYD, according to Reuters, intends to postpone the start of mass production of electric cars at the new plant in Hungarian Szeged to 2026. In addition, in the first two years, the production volume may be significantly lower than originally announced figures.
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The plant in Hungary is considered a key element of BYD's European strategy - the company is investing about €4bn in it. Initially, it was planned that the company will start mass production in 2026. The first phase was planned to produce up to 150,000 cars per year, while the second phase would produce up to 300,000 units. However, sources now say that the plant will be able to produce only "tens of thousands" of cars in the first year of operation.
Against this background, BYD's new plant in Turkey is developing at an accelerated pace. The enterprise in the city of Manisa may start production earlier than planned - at the end of 2026. Already in the first year of operation, this plant will be able to surpass the originally announced capacity of 150,000 cars.
BYD has also previously confirmed that it will locate its new European division headquarters in Budapest and set up a research centre (RD) next to it to support its local operations.
Source: Reuters
