Chinese electric vehicle(EV)giant BYD said on Friday that it has opened a European center in Hungary,a milestone of China-EU cooperation in the field of new energy against the background of frequent high-level meetings between China and the EU.
BYD's European headquarters is located in the 11th district of Budapest,adjacent to the Danube River,with the advantages of being near transportation hubs and industrial clusters.It will be the hub for sales and after-sales services,for testing and for developing localized versions of the company's models,and will create more than 1,000 jobs,according to the official website of the company.
In the field of research and development(R&D),the center will focus on in-depth research on intelligent assisted driving technology and next-generation automotive electrification technology.
In the future,the center will conduct joint scientific research with at least three Hungarian universities,and work with local suppliers and enterprises to promote the upgrading of the new energy vehicle industry chain.
At a press conference on Thursday,Hungarian Prime Minister Viktor Orban highlighted China's role as a world leader in electromobility technology,while stressing that partnership is essential:"We cannot succeed on our own.Only Hungarian-Chinese cooperation can make us competitive,"Budapest Times cited Orban as saying.
BYD has already started to invest in and build factories in Hungary.Relying on the mature automotive industry foundation of the world's second largest EV producer,the company's cooperation with Hungary in the field of green travel began with the establishment of an electric bus factory in Komarom,Hungary in April 2016.At the end of 2023,cooperation was further deepened,and BYD announced the construction of its first European new energy passenger car production base in Hungary.
Currently,Europe has become an important area for Chinese auto companies to expand overseas markets.Xiaopeng,BYD and other independent brands have made relevant layouts in this market.
At present,Xiaopeng has launched three electric models in Europe.He Xiaopeng,the company's chairman and CEO,said that Xiaopeng wants to enter the global market as a mid-to-high-end brand.Different from the original import and export model,Xiaopeng hopes to have R&D,manufacturing,and more in-depth localized services in many regions,according to yicai.com.
Gu Hongdi,co-president of Xiaopeng,said that the company regards Europe as the most important EV market outside of the Chinese market,and is currently studying other ways to invest in the region.In the next three years,the company will launch a number of new models in the European market,yicai.com reported.
China and the EU held a two-day financial working group meeting and financial institution roundtable in Brussels on Tuesday and Wednesday,engaging in extensive discussions on issues including market access optimization and pledging to deepen cooperation in key areas,according to a statement released by the People's Bank of China on Wednesday.
The meeting featured in-depth exchanges on topics including global economic uncertainty,the macroeconomic and financial stability conditions in China and the EU,and regulatory frameworks for the banking and insurance sectors,per the statement.
Reuters reported on October 30,2024 that the EU had decided to increase tariffs on Chinese-built electric vehicles to as much as 45.3 percent at the end of its highest profile trade investigation.
Just over a year after launching its anti-subsidy probe,the European Commission will set out extra tariffs ranging from 7.8 percent for Tesla to 35.3 percent for China's SAIC,on top of the EU's standard 10 percent car import duty,according to the Reuters.
The Ministry of Commerce spokesperson He Yadong said on April 24 that following the April 8 video meeting between Minister Wang Wentao and executive vice president of the European Commission Valdis Dombrovskis,Chinese and EU technical teams have maintained close communication on issues related to the EV price undertaking,as well as trade and investment cooperation,while intensifying efforts to advance the consultation process.
He noted d that China stands ready to work with the EU to properly address economic and trade frictions through dialogue and consultation,deepen practical bilateral cooperation,and inject greater certainty and positive energy into the Chinese,European and global economies.
