Expanded Electric Vehicle Manufacturing: BYD Plans to Boost Production of Electric Heavy Vehicles Threefold in Hungary Following a $94m Investment
Chinese automaker BYD is set to increase its presence in Hungary with a significant investment in a new plant in Komarom. The company will be investing 32 billion forints (94 million dollars) in this new facility, which is expected to triple BYD's annual capacity for electric buses and trucks to 1,250 units.
The announcement was made by Hungarian Foreign Minister Peter Szijjarto, highlighting the growing trade and investment partnership between Hungary and China. Under the leadership of right-wing Prime Minister Viktor Orban, Hungary has been moving closer to Beijing since 2010.
In addition to the production facility, BYD will also establish a research and development laboratory alongside its latest investment. This move underscores BYD's commitment to innovation and technology in the electric vehicle (EV) sector.
Meanwhile, in the realm of EV charging infrastructure, Spanish CPO is expanding its network in France. The company plans to install 2,500 charging points, aiming to accelerate its presence in the country. Despite having over 175,000 points already in place, France still lags behind in public charging infrastructure.
Elsewhere in Europe, Munich Airport is also making strides in EV charging. The airport currently boasts over 1,140 charging points for electric vehicles and devices used on the airport aprons. Munich Airport recently opened one of Germany's largest public charging parks with an investment of €5.2m.
On the technological front, Flexecharge, a leading provider of virtual power plants (VPP), announced its plans to expand to new European countries in 2025 and 2026. The CEO of Flexecharge, whose name was not available in the search results, announced that the VPP will expand to new European countries following the successful launch of the world's first VPP based on high-power public DC charging stations.
The Hungarian government will support BYD's project with a 3.1 billion forint grant. Last year, Hungary received a total of 5.5 trillion forints (16 billion dollars) in Chinese investments, representing 64 large projects. These investments further solidify Hungary's position as an important trade and investment partner for China.
As the EV sector continues to grow, it's clear that Hungary is positioning itself as a hub for EV manufacturing and innovation. With the support of the Hungarian government and the strategic location in Europe, companies like BYD are finding fertile ground to grow and innovate.
