In the coming years, several major investments are going to boost the Hungarian economy, such as the CATL battery factory near Debrecen, the BMW Group’s planned plant construction project and BYD, an electric car manufacturer, is also planning to set up shop in Hungary.
The economic slowdown caused by the Covid pandemic and war in Ukraine, followed by an economic crisis, may be offset by the large investments expected to be made in Hungary over the upcoming years. Among these, the international projects are primarily related to the automotive industry, while the domestic ones will develop the country’s transport infrastructure.
The Chinese owned CATL plans to invest €7 billion into building a battery factory near the city of Debrecen in the coming years. The project will create nearly 10,000 new jobs.
It seems that the Chinese electric car manufacturer, BYD, may also choose Hungary over the United Kingdom due to Brexit. “At the moment, Hungary, along with Germany, Spain, Poland and France, is one of the most likely candidates to host the plant” said Michael Shu, president of the company’s European operations. As one of the world’s largest electric and hybrid car manufacturers, BYD has recently unveiled ambitious plans to dominate the European market in the coming decade.
Development of the BMW Group’s, Debrecen plant is also progressing rapidly; the construction of the communication center, which will serve as the headquarters, is now at the structural construction stage, while the interior construction works are already underway in the case of the training center. According to the preliminary plans, around 150,000 cars may roll out of the factory per year.