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* On December 2023, BYD announced that it will build its first European passenger car factory in Szeged, Hungary. The company pointed out that the Szeged plant will be built in phases and will utilize '''integrated vertical supply chains, most advanced technology and highly automated production process'''<ref>https://www.byd.com/eu/news-list/BYD_to_Build_A_New_Energy_Passenger_Vehicle_Factory_in_Hungary_for_Localised_Production_in_Europe.html</ref>'''.''' | * On December 2023, BYD announced that it will build its first European passenger car factory in Szeged, Hungary. The company pointed out that the Szeged plant will be built in phases and will utilize '''integrated vertical supply chains, most advanced technology and highly automated production process'''<ref>https://www.byd.com/eu/news-list/BYD_to_Build_A_New_Energy_Passenger_Vehicle_Factory_in_Hungary_for_Localised_Production_in_Europe.html</ref>'''.''' | ||
* Bernstein analysts estimate that the Szeged will produce around 200,000 vehicles annually<ref name=":1">https://europe.autonews.com/automakers/byd-make-evs-and-batteries-europe-hungary</ref>. | * '''UBS estimate that BYD's vehicles produced in Europe would likely be 25% cheaper than those of its rivals thanks to its highly integrated vertical supply chains and the fact that 75% of its auto components are made in-house<ref>https://technode.com/2023/09/06/byds-manufacturing-costs-in-eu-could-be-25-lower-than-rivals-ubs/</ref>.''' | ||
* Bernstein analysts estimate that the '''Szeged will produce around 200,000 vehicles annually'''<ref name=":1">https://europe.autonews.com/automakers/byd-make-evs-and-batteries-europe-hungary</ref>. | |||
* The Szeged plant is '''set to receive subsidies from the Hungarian government'''. Hungary's Foreign Minister Peter Szijjarto said the amount of the subsidy will be announced once the EU Commission approves the plant. "This is set to be one of the biggest investments in Hungarian economic history," he said<ref name=":1" />. | * The Szeged plant is '''set to receive subsidies from the Hungarian government'''. Hungary's Foreign Minister Peter Szijjarto said the amount of the subsidy will be announced once the EU Commission approves the plant. "This is set to be one of the biggest investments in Hungarian economic history," he said<ref name=":1" />. | ||
* The Szeged plant has already commenced production and according to Szijjarto , it's worth billions of euros. On Jan 2024, BYD signed a preliminary agreement for the purchase of around 300 hectares of land<ref name=":2">https://bbj.hu/business/industry/automotive/byd-szeged-promises-ecosystem-development-and-a-significant-economic-boost-for-the-area/</ref>. | * The Szeged plant has already commenced production and according to Szijjarto , it's worth billions of euros. On Jan 2024, BYD signed a preliminary agreement for the purchase of around 300 hectares of land<ref name=":2">https://bbj.hu/business/industry/automotive/byd-szeged-promises-ecosystem-development-and-a-significant-economic-boost-for-the-area/</ref>. | ||