Chinese electric and hybrid vehicle manufacturer BYD (Build Your Dreams) has announced plans to establish its European headquarters and research & development center in Budapest, Hungary. This investment marks another step in the company’s strategy to localize operations in Europe and deepen its integration with the European market.
New Headquarters and Thousands of Jobs
The new headquarters, to be located in Budapest’s 11th district, will be BYD’s fifth site in Hungary. The company already operates facilities in Komárom (bus factory), Fót, Páty, and is currently building a passenger car factory in Szeged.
According to BYD officials, the new center will create thousands of jobs for highly qualified professionals. The company also plans to collaborate with at least three Hungarian universities, supporting education and skill development for future employees.
New Research and Development Center
As part of the investment, a new R&D center will be launched, beginning with two strategic projects. The first will focus on smart technologies for modern mobility, and the second on developing next-generation electrification solutions.
BYD states the R&D center will be a hub for generating intellectual property and patents, based on local research. At least 90% of the workforce will have a higher education degree. The company also plans to strengthen cooperation with Hungarian startups and local suppliers.
A Strategic European Location
During the official agreement signing ceremony, BYD Chairman Wang Chuanfu emphasized that the choice of Hungary was no coincidence:
“The new headquarters will perform key operational functions in sales, after-sales service, homologation testing, and product development tailored to European consumers.”
Hungarian Prime Minister Viktor Orbán noted that BYD’s investment fits into Hungary’s long-term strategy of attracting not only manufacturing investments, but also research and innovation:
“Today we open a new chapter – BYD is bringing not only production, but also R&D to Hungary.”
BYD’s Global Expansion
The Budapest investment is part of BYD’s broader global expansion strategy. The company currently operates in over 100 countries and regions across six continents. It specializes in zero-emission vehicles, battery technologies, and intelligent energy management systems. In 2022, BYD became the first automaker in the world to completely cease production of combustion engine vehicles, focusing solely on electric and plug-in hybrid vehicles.
Previously, BYD’s European operations were managed from its headquarters in the Netherlands, coordinating logistics, sales, and service across the EU. The new Budapest site will significantly boost the company’s presence in Central and Eastern Europe.
Source: CEO.com.pl
