Shulou(Shulou.com)11/24 Report--

CTOnews.com, July 13, according to the Financial Associated Press, BYD plans to build a battery assembly plant in Hungary in the next city in Europe, with an investment of more than 200 million yuan. This is BYD's second factory in the country after the Hungarian pure electric bus truck factory. It is reported that the new factory will provide power battery supply for Tesla's Berlin factory.

It is reported that BYD has recently started recruiting people related to its Hungarian business, including government affairs director and equipment engineer. This shows that its new plant in Ford, a small city in northern Hungary, is already under way. Earlier, Hungarian Minister of Foreign Affairs and Trade Peter Sealdo made the announcement during a visit to Shenzhen at the end of June. He said the new plant would not produce batteries, but would just assemble them, with an investment of 10 billion forint (CTOnews.com).

In 2017, BYD built Europe's first all-electric bus truck factory in Hungary and has delivered its first all-electric bus to Vol á nbusz, the largest local public transport operator. In the first half of this year, BYD accounted for about 42% of the new local buses in circulation, taking the absolute lead in the Hungarian bus market.

In addition, BYD has previously reached a power battery supply agreement with Tesla to supply blade batteries for the rear-drive version of Model Y produced by its Berlin plant. According to Miao Wei, deputy director of the Economic Committee of the Chinese people's political Consultative Conference (CPPCC), as the Tesla plant in Berlin begins to produce a rear-drive version of BYD's power battery, BYD's overseas business will see high growth with increased delivery. Therefore, the establishment of a battery assembly plant in Hungary will help BYD provide faster and more convenient services to Tesla.

According to the latest data, the cumulative installed capacity of BYD power batteries in the first half of this year was about 60.25GWh, an increase of 77% compared with the same period last year, indicating that its power battery external supply business is growing. In addition to Hungary, BYD is also exploring the possibility of setting up vehicle plants in France, Spain, Germany and other European countries. Shu Youxing, general manager of BYD's European auto sales division, said in March that "BYD is looking for new factories or acquiring existing ones in Europe in order to gain a foothold in the highly competitive auto industry in the region."

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