BYD is poised to announce that it will build a new electric car factory in Hungary, according to the Financial Times.
The FT reports that the Chinese automotive giant was in ‘final negotiations’ with the Hungarian government on Thursday about the plans, worth several billion euros and set to be confirmed as soon as today (22 December). Autocar has approached BYD for further details.
The report, citing three people familiar with the plans, says the new factory is planned to be in the city of Szeged, in the south of the country. Hungarian prime minister Viktor Orbán has said publicly he expects a significant job boost in the region following substantial investments, but did not name BYD as a potential employer.