Photo: MTI
Eurasia
15/05/2025 19:08
The current agreement with BYD means that the cars of the future will also be manufactured in Hungary, the Prime Minister announced on Thursday in Budapest after receiving Wang Chuanfu, Chairman and CEO of BYD, and Wang Wei-Chung, Governor of Guangdong Province, China, in his office.
According to a report by MTI, after signing the strategic cooperation agreement with BYD, Viktor Orbán recalled that in 1990, Hungary successfully joined the global car manufacturing industry and established a solid industrial and technological base.
However, he added that we are now living in a time of change, with new technologies, consumer demands, and manufacturers emerging, and that we Hungarians do not want to be left out of this new era. We have made a strategic decision that the Hungarian industry must become involved in electromobility, he said.
He also said that market, short-term, and cyclical effects will not influence this strategic decision. When introducing a new technology, there are always ups and downs, and these must be endured. The important thing is that we know this is the future, and Hungary must not be left out of this future, he emphasised.
The Prime Minister stated that it is inconceivable for Hungary to enter a new technological era of electromobility solely on its own. To do this, we need partners, and we can only enter this new era if there is strategic cooperation between China and Hungary, as China is the leader in this industry, he reminded, adding that we are currently experiencing the most intense period of Hungarian-Chinese relations.
According to a report by Magyar Nemzet, he emphasised that Hungarian-Chinese relations are currently at their most intense. The Prime Minister pointed out that the government is pursuing a connectivity strategy in global trade, maintaining pragmatic relations with everyone, and that this is also necessary with China to achieve our goals.
The goal is for Hungary to become a meeting point for Eastern and Western trade, he said. He added that Chinese investments have become an indispensable engine of the Hungarian economy. "We are working together on several major infrastructure projects, including the Budapest-Belgrade railway line.
At the event, Péter Szijjártó, Minister of Foreign Affairs and Trade, and a representative of BYD signed a strategic cooperation agreement on behalf of the Hungarian government and the car manufacturer.
Hungary is an attractive investment destination, as evidenced by the fact that the world's largest car brands are coming here, Wang Chuanfu pointed out, which is why they decided to locate their European headquarters here. He drew attention to the fact that the investment will create 2,000 new jobs. He also said that the centre will have three main functions:
1. services,
2. design
3. and development.
The article recalled that the car manufacturer's CEO arrived in Hungary last night and was welcomed at Ferihegy Airport by István Joó, government commissioner and CEO of the Hungarian Investment Agency (HIPA).