BYD, the world’s leading manufacturer of electric vehicles according to its own statements, has announced that it will establish its European headquarters in Budapest, Hungary, and set up a new European research and development center there. As part of the agreement, two specific projects in the field of research and development will initially be launched with significant investments. The first project focuses on the further integration of intelligent technologies into modern mobility, while the second will contribute to the development of advanced electrification technologies of the next generation, according to the company.
Under the agreement, new and high-quality jobs will be created in the Hungarian capital and training and further education opportunities will be promoted through collaboration with at least three universities in the country, the company promises. The new headquarters, which will be located in the 11th district of Budapest, will be BYD’s fifth location in Hungary, following the bus plant in Komárom, other plants in Fót and Páty, and Szeged, the site of the future car plant.