The Chinese electric car manufacturer BYD is investing HUF 10 billion (EUR 27 million) to set up a battery assembly plant in Fót. In the first phase, 100 new jobs will be created. BYD is further increasing its presence in Hungary by building the new plant in Fót. The government is supporting the investment with around HUF 1 billion (EUR 2.7 million).
BYD is now the world’s largest manufacturer of electric cars and the second largest player in electric batteries. The company produces electric buses in Komárom. With government support, municipalities are continuously replacing their old, polluting buses with electric buses, with BYD accounting for about 42% of the new vehicles put into service.