Chinese electric car giant BYD plans first EU factory in Hungary

Plant will produce electric cars and plug-in hybrids for the European market and create thousands of jobs, car maker said

BYD is expanding in Europe in part because it can charge higher prices there. Its Dolphin compact crossover starts at €35,990 in Germany, more than double the asking price in China. 

Chinese electric car giant BYD plans to build its first European car factory in Hungary, rewarding prime minister Viktor Orban for years of courting China for investments.

The plant in the southern city of Szeged will produce electric cars and plug-in hybrids for the European market and create thousands of jobs, BYD said.