⚡️BYD's European Dream: Hungary Over Saarlouis? ⚡️
There's a buzz in the automotive world, with Chinese electric vehicle giant BYD ("Build Your Dream") reportedly eyeing Hungary as the location for its first factory in Europe. The Frankfurter Allgemeine Sonntagszeitung claims that internal decisions point towards Hungary as the preferred spot for BYD's car manufacturing facility, citing unnamed sources close to the company.
🇭🇺🇨🇳 Connection: Hungarian PM Viktor Orbán recently paid a visit to BYD's headquarters in Shenzhen, China, where he met with CEO Wang Chuanfu. Orbán's trip to the Middle Kingdom happened in mid-October, representing one of the few European attendees at a summit celebrating the tenth anniversary of the Chinese "New Silk Road" trade project.
BYD has stayed mum on the location hunt, stating that their search still continues and a decision is due at year's end. Hungary's government hasn't commented publicly yet, while reports have linked BYD to Saarlouis as a potential location for a Ford plant on the brink of closure.
As for the European market, BYD aims to build a local production base to dodge EU tariffs on imported electric vehicles from China. According to inside intel, BYD is actually targeting Hungary and Turkey as its European investment hotspots, leaving Saarlouis out of the equation.
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