BYD Car Investment Affirms Hungary as China’s EU Bridgehead

(Bloomberg) — BYD Co. Ltd. plans to build its first European car factory in Hungary, rewarding Prime Minister Viktor Orban for the years he has spent courting China for investments.

The plant in the southern city of Szeged will produce electric vehicles (EVs) and plug-in hybrids for the European market and create thousands of jobs, BYD said Friday. The investment comes a few months after Brussels launched a probe into state subsidies to Chinese EV makers and might help BYD dodge any resulting import tariffs.