The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29 - Manufacture of motor vehicles, trailers and semi-trailers
300 jobs Number of planned job creations
Announcement Date
10 October 2016
Employment effect (start)
Foreseen end date
Description
BYD, a Chinese electric vehicle manufacturer, is planning to build an electric bus factory in Komarom with a EUR 20 million investment, creating 300 jobs. The project is supported by the Hungarian government with HUF 925 million (EUR 3 million). The Hungarian plant will begin production in the first quarter of 2017. According to BYD Europe's managing director, Hungary has a "central location and long-standing tradition of engineering excellence and bus manufacture", these are the reasons why BYD chose Hungary to invest.
Sources
10 October 2016: Hirado.hu
10 October 2016: Portfolio.hu
11 October 2016: China Daily
Citation
Eurofound (2016), BYD, Business expansion in Hungary, factsheet number 88890, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88890.
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