BYD has announced the construction of a brand-new manufacturing and production centre in Szeged, Hungary.
The state-of-the-art facility will be the first of its kind built by a Chinese automotive company in Europe. It will have an advanced car production line.
The factory will be built in phases. It is expected to create jobs for the locals, boost the local economy and support local supply chains.
The new production facility will incorporate the most advanced global technology and highly automated production processes to create a leading global new energy passenger vehicle manufacturing facility. The construction of this production centre is expected to have a positive impact on the local economy by promoting technological exchange and innovation between China and Hungary.
BYD will also utilise its expertise in integrated vertical supply chains to help create a green ‘ecosystem’ locally.
The BYD brand has made significant progress in launching its passenger car operations in Europe. Within the first year, the company has established 230 retailer stores across 19 countries, introduced five new models (BYD HAN, BYD TANG, BYD ATTO 3, BYD SEAL, and BYD DOLPHIN), spanning the C to E segments, including hatchbacks, sedans and SUVs. Additionally, three new models are planned to be launched within the next 12 months.Driven by its global brand vision to 'Cool the Earth by 1°C', BYD aims to accelerate the pace of new energy passenger vehicle penetration into the European market, further deepen its globalisation strategy and actively promote the green transformation of the global energy structure.
Annual Sales Exceeds 3 Million Units
BYD has concluded 2023 with record-breaking sales volume, which surpasses the 3 million annual sales target and becomes the global new energy vehicle (NEV) sales champion, for the second year in a row. This year also marks BYD being listed among the global top 10 of car sales for the first time.
December saw sales of 341,043 units, a 45% increase, culminating in a total of 3,024,417 vehicles sold throughout the year, a substantial 61.9% surge from the previous year. In 2023, BYD's international market presence surged, with exports growing by 334.2% to 242,765 units and its reach across over 70 countries on six continents.
In 2023, the vehicle maker completed its brand matrix, including the Dynasty series, Ocean series, DENZA, FANGCHENGBAO, and YANGWANG. This development strengthened its position as having one of the most extensive portfolios in the global new energy sector.
Dynasty and Ocean series achieved sales of 2,877,353 units, marking a 55.3% increase from the previous year. DENZA sold 127,840 units in 2023, with the DENZA D9 emerging as the annual MPV sales champion. Besides, the upcoming OTA for DENZA N7 is set to showcase the company's position in intelligent vehicle technology.
YANGWANG and FANGCHENGBAO, both launched in 2023 and initiated deliveries in November, received encouraging market responses. YANGWANG U8 emerged as a top seller in the million-level NEV segment, while BAO 5 established a strong foothold in the off-road segment, the company stated.
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