BYD may postpone mass production at its new electric vehicle (EV) factory in Hungary until 2026, and in the first two years, the new unit is expected to produce below the anticipated capacity.
The news was reported this Tuesday by “Reuters,” citing sources close to the Chinese company, and it also indicates that the new factory in Turkey will begin producing cars earlier than expected, where labor costs are lower, and it may significantly exceed the announced production plans.
It should be noted that BYD will invest around €4 billion in the new factory located in Szeged, in southern Hungary, which was initially expected to start mass production in 2026, but may only produce a few tens of thousands of vehicles in its first year of operation.
If the news reported by “Reuters” is confirmed, it could represent a lower production than initially expected for BYD’s new factory in Europe, where a production of 150,000 vehicles was anticipated. The expectation is that it will reach a maximum capacity of 300,000 cars per year.
In contrast to the factory in Hungary, the new production unit in Manisa, Turkey, which is also expected to start production next year, will have a capacity to produce 150,000 vehicles annually; however, all indications suggest that it will surpass that number in its first year of production.
In addition to the new BYD factories in Hungary and Turkey, the Chinese brand has already announced that it will establish its new European headquarters in Budapest, Hungary, and that this will be supported by a new European research and development (R&D) center.
