BUSINESS
Chinese firm BYD opens electric bus factory in Hungary
2017-04-05 11:10 GMT+8
7392km to Beijing
Editor
Xie Zhenqi
Chinese vehicle manufacturer BYD opened its first European electric bus factory in the northern Hungarian city of Komarom on Tuesday.
BYD is expected to invest a total of 20 million euros (21.3 million US dollars) in the project to 2018.
Currently, there are 32 employees, but the company plans to hire around 300 people to assemble up to 400 electric buses a year for export across Europe.
After producing electric buses and coaches, the company will begin making electric forklift trucks and light commercial vehicles.
Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto (3rd L), Chinese Ambassador to Hungary Duan Jielong (1st L) and Isbrand Ho (3rd R), managing director at BYD Europe, cut the ribbon at the opening ceremony of BYD electric bus factory in Komarom, Hungary, on April 4, 2017. / Xinhua Photo
"They (BYD) have chosen Komarom and Hungary amongst many competitors from not only Europe, but also many parts of the world," Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto said at the opening ceremony.
Szijjarto said the Hungarian government took every step possible to turn the country into a target for not only production companies, but also those that want to make Hungary the location of their research and development centers.
Hungary has the lowest corporate tax in the European Union (EU), Szijjarto said.
Chinese Ambassador to Hungary Duan Jielong hoped that the BYD investment project could achieve mutual benefits and common development, and promote bilateral cooperation.
The plant, which is expected to employ a staff of 300, is set to turn out 400 vehicles a year. / CFP Photo
China's investment in Hungary has reached 4.1 billion US dollars in the chemical, financial, communications, logistics and automotive industries, Duan added.
Isbrand Ho, managing director at BYD Europe, said that his firm chose Hungary and Komarom because of its central location and its long tradition of engineering excellence.
"We are very conscious of the country's strong heritage of bus making in this immediate region," he said.
(Source: Xinhua)
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