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CHINA'S BYD WILL BUILD NEW ENERGY VEHICLE PRODUCTION BASE IN HUNGARY




Chinese electric vehicle giant BYD (002594.SZ) is to build a new energy vehicle production base in Hungary, it said on Friday. The new facility to be built in Szeged, southern Hungary is expected to create thousands of local jobs, BYD said in a statement on its official WeChat account. The biggest Chinese rival to Tesla (TSLA.O) already has a plant in the city of Komarom in northwest Hungary that assembles electric buses. The Komarom plant, established in April 2016, was BYD's first factory in Europe, according to the company. It now has over 30 industrial parks and production bases globally, with factories also in the U.S., Brazil, Japan and India.

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