BYD has announced it will establish its European headquarters, as well as a new research and development (R&D) centre in Budapest, Hungary, as it looks to centralise its efforts to spearhead European new energy vehicle (NEV) markets. The initiative also encompasses a previously-announced passenger electric vehicle (EV) plant in Szeged, expected to create thousands of jobs and bolster Hungary’s position at the forefront of Chinese efforts to enter Europe.
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