Hungary

Samsung SDI, the conglomerate's battery affiliate, already has a sizable presence in Hungary. The company manufactures many different types of batteries in the country. As demand for battery products grows, so does its need to expand production capacity. According to a new report out of South Korea, Samsung has finalized plans to set up another battery factory in Hungary. This would be the company's third such facility in Hungary, where it has already invested billions of dollars in similar facilities. Samsung continues…

Two months after announcing it had selected Hungary as the desired location of its first passenger EV production facility in Europe, Build Your Dreams (BYD) has completed a preliminary sales agreement for the Hungarian land those facilities should eventually sit atop. It should come as no surprise at this point that BYD is looking to get European EV production up and running quickly and is now moving one step closer. BYD enters 2024 as the global leader in EV volume, recently usurping Tesla and…

BANGKOK (AP) — Chinese automaker BYD said Friday that it plans to build a new electric vehicle plant in Hungary, its first car factory in Europe, as part of its rapid global expansion. Hungary will be the center for its European operations, BYD said in a notice on its Weibo social media account. BYD, based in the southern Chinese city of Shenzhen, said it plans to create thousands of jobs in creating a “local green ecosystem” for manufacturing its electric vehicles. The factory will have an advanced…

As Chinese EV automaker Build Your Dreams (BYD) closes in on current global sales leader Tesla, a massive factor in its strategy includes expansions in the EU. Less than two months after BYD shared plans to expand passenger EV production to Europe, we now know that journey will begin in Hungary. It’s been a mere three years since Chinese EV automaker BYD entered the European market, beginning in Norway. Since then, we’ve watched the company expand the reach of its brand en route to becoming not…

The wheels of an electric car of Chinese car maker BYD is on display at the Essen Motor Show in Essen, Germany, Friday, Dec. 1, 2023. Chinese automaker BYD said Friday, Dec. 22, that it plans to build a new electric vehicle plant in Hungary, its first car factory in Europe, as part of its rapid global expansion.Credit: AP Photo/Martin Meissner, File One of the world's largest electrical vehicle manufacturers, China's BYD,…

Congratulations are in order for actor Dylan Sprouse and model Barbara Palvin. The couple tied the knot in Hungary – Barbara's home country – on July 15, according to a new report. Their official wedding photos were shared on Wednesday, and give a glimpse of their special day. Also read: Jennifer Lopez shares new pics from her wedding with Ben Affleck, talks about perfect timing Model Barbara Palvin and actor Dylan Sprouse married on July 15 in her home country of Hungary on her parents’ property. (Instagram…

<!----> South Korean battery components producer EcoPro has begun construction of a new cathode materials plant in Hungary, as it eyes Europe’s fast growing electric (EV) industry and markets. The company is spending KRW380bn (US$285m) to build a factory near Debrecen, 230km (140 miles)…

Hungary has acquired an indirect minority stake in PPF Telecom group's Hungarian operator Yettel Magyarorszag through a share swap agreement, the government said on Monday, boosting Prime Minister Viktor Orban's control over the sector. The deal follows an agreement by British telecom group Vodafone to sell its Hungarian business to local IT company 4iG and the Hungarian state for a total cash consideration of 1.7 billion euros ($1.82 billion). In power since 2010, nationalist Orban has expanded his government's influence…

Published By: Mayank GuptaLast Updated: March 20, 2023, 11:40 ISTMercedes-Benz China EV Factory (Photo: Reuters)The luxury brand has planned a three-digit million amount for the modernization of its plants in China, Germany and Hungary in the coming yearsMercedes-Benz will invest billions of dollars to modernise its plants in China, Germany and Hungary over the coming years, magazine Automobilwoche reported, as the carmaker prepares to switch to electric vehicles and cut emissions.The European Union has set a goal to…

Last Updated: March 01, 2023, 13:23 ISTImage used for Representation. (Photo: Reuters)Following the launch of a Russian missile over Moldovan airspace earlier this month, Wizz Air said that it will cancel all flightsHungarian low-cost carrier Wizz Air said that it will suspend all flights to and from Moldova next month due to security concerns linked to growing tensions with Russia, according to media reports.It comes after a Russian missile was fired over Moldovan airspace earlier this month, reports the Guardian.Also…