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...Source: Transcript: From China EV Post, BYD is gearing up to dominate Europe's Electric Vehicle market with a new factory in Hungary. The cost of the investment is in the multi-billion-euro range. There's no word yet on when the factory will start production. This factory will be the first large-scale car plant in Europe by a Chinese brand, aiming to meet BYD's goal to lead Europe's EV industry by 2030. BYD's existing Hungarian bus factory has already delivered electric buses, and they plan to assemble batteries at a new plant in Fót. Hungary's partnership with China's “Belt and Road“ initiative is attracting car and battery factories. BYD is China's largest New Energy Vehicle maker and is quickly catching up to Tesla in the global market share. Keep an eye on BYD as they accelerate their European EV ambitions.
