Steel supplier of BYD's Hungarian factory revealed

Chinese electric vehicle manufacturer BYD has reached an agreement with Austrian steel company voestalpine to supply steel to BYD's factory in Hungary.

This announcement is another important milestone in BYD's establishment of a manufacturing base in Europe, particularly with regard to the facility near Szeged, which will be the company's first investment of this kind in the region.

While the specifics, such as supply volumes and the duration of the partnership, have not yet been disclosed, the announcement confirms that it will be a long-term strategic collaboration.