Hungary Sees EV Investment Surge as BYD Poised to Set Up Factory
- BYD to set up first European car factory in Hungary, FAS says
- Hungary may double €100 billion FDI by 2030, minister says
BYD is set to choose Hungary over Germany for the location of its first European plant.
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Hungary expects a doubling of foreign direct investment by the end of the decade on a surge in the electric-vehicle industry, with China’s BYD Co. reported to be the latest to build a new factory in the country.
The jump in Hungary’s FDI stock by 2030 from the current level of €100 billion ($107 billion) will be mainly in EV and battery investments, Economic Development Minister Marton Nagy told a forum in Shanghai, China, according to a ministry statement on Monday.