Chinese electric vehicle manufacturer BYD has announced a major new investment of HUF 32 billion (approx. USD 86 million) to build an electric bus manufacturing facility in Komárom, creating 620 new jobs.
According to Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó, the government will support the project with HUF 3.1 billion in incentives.
R&D lab. Up to 1,250 electric buses and trucks annually
The investment will include the creation of a research and development test laboratory, while the factory’s production capacity is set to triple. Once completed, the Komárom facility will be capable of producing up to 1,250 electric buses and trucks annually.
Szijjártó highlighted that this marks BYD’s third major project in Hungary in under two years. The company is also building its first European car manufacturing plant in Szeged and has chosen Budapest as its European headquarters and R&D center.
