Chinese vehicle manufacturer BYD is building a new plant for the production of electric buses with an investment of HUF 32 billion (EUR 80 million).
At the recent groundbreaking ceremony in Komárom, it was announced that the government is supporting the large-scale project with subsidies amounting to HUF 3.1 billion (EUR 7.75 million), as it will create 620 jobs and triple the capacity of the existing plant.
BYD is expanding its production capabilities with an R&D test laboratory and plans to manufacture 1,250 buses and trucks annually in Northern Hungary.
This is already BYD’s third major project since announcing the car factory in Szeged — where 150,000 electric vehicles will be produced annually — and the relocation of its European R&D headquarters to Budapest.