Breaking: BYD's Big Push for a Global Domination, Setting Up Shop in Hungary
Chinese automaker BYD plans to establish a European headquarters in Hungary.
Hold onto your helmets, folks! Chinese electric vehicle behemoth, BYD (Build Your Dreams), has declared it's gunning for global supremacy, revealing plans to sell a whopping half of its rideable goodness abroad by 2030. And guess where they're planting their flag for a mighty European stronghold? You got it, my friend—Hungary!
At a recent pressie confab with Hungary's Prime Minister, Viktor Orban, BYD's Chairman, Wang Chuanfu, unveiled his vision for a game-changing European hub. This baby's gonna house a triple-threat operation: sales and after-sales services, testing the hoot-nanny out of their vehicles, and local market model development. Hungry for action, Wang revealed intentions to employ a staggering 2,000 locals at said hub.
So, what gives, Hungary? With its China-friendly policies, the landlocked country stands out among many other EU states, making it the perfect pairing for BYD's European expansion dreams. And remember that factory BYD unveiled back in April 2016 in Komarom? Well, I've got news for you—they're cracking open another one pit right now!
Before you ask, yes, BYD's not just kicking back in China, basking in local success—they're wanderlusting, opening spankin' new showrooms from Aussie land to Deutschland to escape that insane price competition back home. In March this year, Wang predicted that international sales would be their ticket to a profitable future, admitting that profit margins from overseas markets would soon dominate their bottom line, though, like a true boss, he kept his cards close to his chest on the when and where marks.
Let's take a breath and talk geopolitics, shall we? As much as BYD's got dreams of splashing on the North American shore, those pesky tariffs on imported EVs have thrown a wet towel on those plans for now. Instead, they're focusing on producing within the European Union, instead of just trotting over their auto-awesomeness for customers.
Now, you might be thinking, "Hold up, cowboy. BYD's not exactly Volkswagen-sized yet." And you'd be right. But thanks to winning the number one spot in China, the world's largest auto market, BYD's global sales have skyrocketed to nearly match Ford and General Motors.
Sources: ntv.de, jki/rts
- BYD
- China
- Hungary
- Electric Vehicles
- With BYD's growing global sales, they are deciding to focus on producing electric vehicles within the European Union, aligning with Hungary's community policy and finance industry to establish a new market presence.
- As BYD continues to expand, they plan to create employment opportunities for over 2,000 locals in Hungary's transportation and automotive sector, contributing to their vision for a global domination in the electric vehicle industry.
