© Reuters. A BYD’s electric vehicle (EV) Qin moves on a street in Beijing, China October 31, 2023. REUTERS/Tingshu Wang/ File Photo
FRANKFURT (Reuters) – Chinese electric vehicle giant BYD (SZ:) plans to build its first European car factory in Hungary, a German newspaper reported on Saturday.
The Frankfurter Allgemeine Sonntagszeitung (FAS), citing unnamed sources close to BYD, said the decision had already been made internally.
A government website in Shenzhen, where BYD is headquartered, posted an article last month saying that Hungarian Prime Minister Viktor Orban met BYD Chairman and President Wang Chuanfu on a visit to the company.
BYD, contacted by Reuters, said that it was still looking for the right location and would make an announcement at the end of the year.
The Hungarian government did not immediately respond to requests for comment.