Economy 12 September 2025, 12:20pm

Hungarys MoFA makes cryptic statement, suggesting important announcement for the automotive industry may be imminent

Portfolio

According to Péter Szijjártó, the Hungarian Minister of Foreign Affairs and Trade, the country has become a key hub for cooperation between German and Chinese automotive companies as they transition to electric vehicles. He said there will be excellent news in this regard in the coming weeks, business daily Világgazdaság reported on Friday.

The global economy is undergoing dramatic changes as the automotive industry transforms and shifts to electric power, Péter Szijjártó said in a video posted on Facebook. The minister emphasised that Chinese and German companies are playing a leading role in this process.

The good news is that these companies have found common ground in Hungary, where they operate most efficiently,

underlined the minister, adding that the government's goal is to attract even more German and Chinese companies to Hungary.

Péter Szijjártó then stated:

'We will have some great news to share in the coming weeks.'

An article in Világgazdaság highlights the emergence of a new electric car industry cluster in Hungary, involving BMW, BYD, battery cell manufacturers and raw material suppliers. Amperex Technology is converting its €7.3 billion Hungarian plant to enable it to respond more flexibly to the changing needs of European car manufacturers.

BYD's HUF 1.6 trillion factory in Szeged is expected to begin production in 2026. Following 224 rounds of negotiations, the Chinese car manufacturer selected Hungary as the site for its inaugural European factory. According to the portal, the company will also relocate its European headquarters from the Netherlands to Budapest, providing job opportunities for around 2,000 highly skilled professionals.

The paper noted that a significant investment from the automotive industry may also be coming to the Pécs region, according to reports. Levente Magyar, the Deputy Minister of Foreign Affairs and Trade, has previously stated that the government's goal is to develop the southern Hungarian region, which is why a 600-hectare industrial zone is being created near Pécs.

In the article, Világgazdaság highlighted that, although it is not yet clear exactly which project Péter Szijjártó's announcement refers to, based on the minister's statement, another significant automotive investment could arrive in Hungary within weeks.

Cover photo: EU