China-based BYD Company will establish Europe's first electric bus production facility in...All Articles
BYD Company has been awarded a HUF 925 million (€3 million) grant from the Hungarian government to support the facility in Komárom, with an expected investment of HUF 6.2 billion (€20 million). The plant will eventually employ up to 300 people and assemble up to 400 vehicles a year.
The initial output will be BYD's range of emissions free electric buses and fork lift trucks but the Hungarian subsidiary's name - BYD Electric Bus & Truck Hungary Kft – hints at other ambitions. The Hungarian plant will begin production in the first quarter of 2017 and will have its own R&D Centre and battery test facility.
Speaking at a ceremony at the Hungarian Ministry of Foreign Affairs and Trade in Budapest, Isbrand Ho, BYD Europe's Managing Director, said: "Today's announcement reinforces our company's commitment to the European market. This is our first manufacturing facility but it won't be our last – we are actively looking for other locations". He added: "We chose Hungary both because of its central location in Europe and its long tradition of engineering excellence and indeed bus making as well as the very friendly welcome we have received from the authorities here". The new plant will also include a paint shop that applies state-of-the-art technology, a research centre and a testing centre, he told reporters.
Major of Komárom Attila Molnár highlighted the fact that BYD could also win an award for the “most loyal company” in view of the fact that it maintained its presence in Hungary as a supplier even after the closure of the Nokia plant.
“This project is a milestone in the life of the city”, he declared, adding that job creation is of key importance to the city and the new plant would also mean an increase in local tax revenues, which will provide the municipality with further development opportunities.
BYD Company Ltd. is one of China's largest companies to have successfully expanded globally. Specializing in battery technologies, their green mission to "solve the whole problem" has made them industry pioneers and leaders in several High-tech sectors including High-efficiency Automobiles, Electrified Public Transportation, Environmentally-Friendly Energy Storage, Affordable Solar Power and Information Technology and Original Design Manufacturing (ODM) services.
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