China EV maker BYD to construct first Europe plant in Hungary -FAS

China EV maker BYD to construct first Europe plant in Hungary -FAS

BYD's electric vehicle (EV) Qin moves on a street in Beijing

A BYD’s electrical car (EV) Qin strikes on a road in Beijing, China October 31, 2023. REUTERS/Tingshu Wang/ File Picture Acquire Licensing Rights

FRANKFURT, Nov 4 (Reuters) – Chinese language electrical car large BYD (002594.SZ), plans to construct its first European automotive manufacturing facility in Hungary, a German newspaper reported on Saturday.

The Frankfurter Allgemeine Sonntagszeitung (FAS), citing unnamed sources near BYD, stated the choice had already been made internally.

A authorities web site in Shenzhen, the place BYD is headquartered, posted an article final month saying that Hungarian Prime Minister Viktor Orban met BYD Chairman and President Wang Chuanfu on a go to to the corporate.

BYD, contacted by Reuters, stated that it was nonetheless on the lookout for the suitable location and would make an announcement on the finish of the yr.

The Hungarian authorities didn’t instantly reply to requests for remark.

Reporting by Brenda Goh, Jason Xue, Krisztina Than, and Tom Sims; enhancing by Jason Neely

Our Requirements: The Thomson Reuters Trust Principles.

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