China's BYD will delay mass production at its new electric vehicle factory in Hungary until 2026 and will run the plant at below capacity for at least the first two years, sources said https://t.co/lNbbKlh5UL https://t.co/1plUhk7nn0
BYD to delay mass production at Hungary plant while moving up production at Turkey plant, report says BYD will delay production at Hungarian EV plant until 2026 and will operate it below capacity for at least the first 2 years, according to Reuters. https://t.co/i7vS7LbJsx 👇
🤔 "BYD will delay mass production at its new electric vehicle factory in Hungary until 2026 and will run the plant at below capacity for at least the first two years"
BYD will postpone the start of mass production at its €4 billion electric-vehicle factory under construction in Szeged, Hungary, until 2026 and will operate the site well below its initial annual capacity of 150,000 cars, according to people familiar with the company’s plans. The sources said the plant is expected to build only a few tens of thousands of vehicles in its first year and remain below planned output through at least 2027. At the same time, the Chinese automaker intends to accelerate production at a separate US$1 billion facility now being built in Manisa, Turkey. That plant, originally targeted to come online at the end of 2026, is now forecast to produce more cars than the Hungarian factory as early as 2027 and to surpass its stated 150,000-unit capacity the following year. The shift highlights BYD’s efforts to contain labor and energy costs while still securing tariff-free access to European buyers. Cars built in Turkey can enter the European Union without the 27% duties levied on BYD vehicles shipped directly from China, whereas Hungary offers proximity to EU markets but higher operating expenses. BYD has not publicly commented on the revised production timetable.