Economy 23 May 2025, 11:45am

China's BYD may invest more in Hungary - The gov't has has already made a move in Komárom

Portfolio

Even before the visit of the BYD CEO from China, the Hungarian government had already designated a plot of land in Komárom, located next to the company's existing bus factory, as a priority investment area. This could suggest that the government is preparing for a potential factory expansion, but in response to Telex, the company stated that no official decision had yet been made. The priority status would make it much easier to get the investment approved.

Portfolio was the first to notice that, during BYD's CEO's visit to Hungary, the government had designated a plot of land in Komárom — right next to BYD's existing bus factory — as a priority investment for the national economy.

The decision was published in the Official Gazette on 14 May, the day before Viktor Orbán and Wang Chuanfu held a joint press conference. While many had anticipated an announcement regarding an expansion in Komárom, it was revealed only that BYD would relocate its European headquarters to Budapest.

Priority status means that the land is exempt from local building regulations, allowing for quicker and easier processing and significant discounts for investors. Under the regulations, new buildings can have 60% coverage and a maximum height of 17.5 metres.

The Chinese manufacturing company has not yet confirmed the expansion. However, in response to Telex's enquiry, the company wrote:

BYD's presence in Komárom aligns with the company's long-term strategic goals, and it is continuously exploring opportunities for further expansion. The details are still under discussion, so we cannot share any specifics at this time.

The news portal sent questions to several ministries, the municipality of Komárom and the National Infrastructure Developer, but received no substantive answers.

BYD Electric Bus & Truck Hungary Kft, which runs BYD's bus factory in Komárom, recorded a turnover of HUF 27 billion in 2023 and employed 615 people. It has completed five investments in Hungary in recent years.

Cover photo: MTI Photo/Csaba Krizsán