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BYD official announced that the first European factory has landed in Hungary!

2024-04-24 Update From: AutoBeta NAV: AutoBeta > News >


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On December 22, BYD announced that it will build a new energy vehicle production base in the Hungarian city of Szeged, which will be built in stages and is expected to create thousands of jobs locally. Hungary is BYD's first passenger car market in Central and Eastern Europe, and this will be BYD's first European factory for passenger cars. The new production base plans to adopt the world's advanced process equipment and highly automated production process to build a global leading new energy vehicle manufacturing base. The construction of this production base will actively drive the development of the local economy, promote technological exchanges and innovation between China and Hungary, and help the local construction of a green "ecological circle" with BYD's own advantages in the whole industrial chain.

At present, BYD has become the largest new energy automobile manufacturer in China, with a total layout of Dynasty. com, Ocean. com, Tengshi, Looking Up and Equation Leopard brands. The product prices range from million-level luxury to 100,000 yuan, and many products dominate the passenger car segment market.

In addition to improving its product matrix, BYD is accelerating its overseas market development. Since BYD officially announced its "passenger car to sea" plan in May 2021, BYD has entered 59 countries and regions such as Japan, Germany, Australia, Brazil and United Arab Emirates. In addition, BYD is accelerating the construction of overseas factories. In September, BYD and Uzbekistan State-owned Automobile Group jointly established a joint venture company. The annual output of Phase I/Phase II of the factory is planned to be 50,000 units, and the output will reach 300,000 units after the completion of Phase III.

Data show that BYD passenger cars set a new monthly export record of 30629 vehicles in November this year, more than one-third of the total number of domestic new energy passenger cars in the month. Why can BYD quickly open up overseas markets? BYD related responsible person said in an interview earlier: "As a leading enterprise in the new energy automobile industry, BYD has more than 20 years of technology accumulation and masters the core technologies of the whole industry chain of new energy vehicles such as batteries, motors and electronic controls, which gives us a profound insight and understanding of the technological transformation and strategic layout of the industry. "According to the plan, BYD's overseas export volume is expected to be 250,000 - 300,000 vehicles in 2023, while the export volume next year may reach 1 million vehicles.

On December 15, BYD Song L went on the market. Five new models were launched, with a price range of 189,800 - 249,800 yuan. The new car is positioned as a medium-sized coupe SUV, built on the e-platform 3.0, which will become the third model of BYD Dynasty's Song family. The other two models are Song Pro DM-i and Song MAX DM-i, which will compete with Tesla Model Y.

The industry believes that BYD's launch of preferential activities in the past two months and the listing of the new car Song L will bring new growth to BYD. Official data show that in the first November of this year, BYD's cumulative sales volume was 2.6834 million vehicles, up 64.29% year-on-year. According to the annual sales target of 3 million vehicles, BYD needs to sell 316,600 vehicles in December to achieve the target. As for whether BYD can achieve the annual sales target under preferential promotion and new car listing, we may wish to wait and see.

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