AssetID: 54933002
Headline: UNCAPTIONED: BYD Delays Mass Production in Hungary, Shifts Focus to Turkey for EV Production
Caption: BYD Delays Mass Production in Hungary, Shifts Focus to Turkey for EV Production. China’s BYD has delayed mass production at its new Hungarian plant until 2026, running below capacity for the first two years. The Szeged plant in Hungary will initially produce only tens of thousands of vehicles in 2026, well below its 150,000-vehicle capacity. BYD’s shift toward Turkey will see higher production there, with the Turkish plant expected to exceed 150,000 cars by 2027. The delay in Hungary is a setback for the EU’s goal of attracting Chinese investments and manufacturing jobs in the region. The Hungarian plant, costing €4 billion, aims to sell cars in Europe tariff-free, but the delay complicates the plan. Many vehicles produced at BYD’s new $1 billion plant in Turkey will also target the European market, avoiding EU tariffs. Turkey’s lower labor costs and energy expenses have made it an attractive option for BYD, despite higher wages in Hungary. Demand for BYD’s electric vehicles in Europe is growing rapidly, with sales expected to double by 2029. In Brazil, BYD is expanding operations, although the company faces a lawsuit over alleged labor abuses related to contractors. Despite delays in Hungary, BYD remains committed to the European market, focusing on popular EV models like the Atto 3, Dolphin, and Seagull. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Motoring,BYD,electric vehicle,Hungary,Turkey,mass production,Szeged plant,EU tariffs,EV manufacturing,production delay,European market,automotive industry,electric vehicles,international production,China,manufacturing delays,European Union,tariffs,car manufacturing,labor costs
PersonInImage: