SMM Analysis: BYD Makes New Breakthrough in Entering European Market with Pre-purchase Agreement for Land Signed with Szekesfehervar, Hungary to Build Passenger Vehicle Factory
SMM News on February 1st: According to official news from BYD Auto on January 31st, on January 30th, 2024, BYD officially signed a pre-purchase agreement for land for the construction of a passenger vehicle factory in Szekesfehervar, Hungary with the local government. The signing ceremony was attended by Sialdo Peter, the Minister of Foreign Affairs and External Economy of Hungary, Botka Laszlo, the Mayor of Szekesfehervar, Gong Tao, the Chinese Ambassador to Hungary, and Wang Chuanfu, Chairman and President of BYD. This marks a new substantial breakthrough for BYD's localization process in the European region.
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