Journalists take photos and videos of a BYD Atto 3 outside the venue of BYD grand launch in Jakarta, Indonesia, Jan. 18, 2024. China's BYD, a global leader in the sale of pure electric vehicles (EV), launched three new electric passenger cars, SEAL, Atto 3, and Dolphin, in Jakarta, Indonesia on Thursday to further expand in the Southeast Asia region. Photo: Xinhua

Chinese EV maker BYD told the Global Times on Thursday that its plant in Szeged, Hungary, remains on track and it plans to begin production by the end of this year, dismissing reports of delays or scaled-back capacity.

“Our strategy in Europe is long-term,” the company said, adding that construction of the Szeged plant is progressing as planned. “The project remains on track to start production by the end of the year. The planned capacity also remains unchanged, with a target annual peak output of 300,000 units,” BYD said.

The Reuters on Tuesday reported that BYD will delay mass production at its Hungary plant until 2026 and will run the plant at below capacity for at least the first two years, two sources familiar with the matter said.

BYD is currently certifying 150 European suppliers to further strengthen its local supply chain, the company told the Global Times.

The electric vehicle plant in Hungary, its first EV factory in Europe, is part of its rapid global expansion. The company previously said in a post on its Weibo account that Hungary would serve as the center of its European operations.

In May, BYD recorded total sales of 10,199 vehicles across its five key European markets, Britain, France, Germany, Italy, and Spain, according to media reports.

Global Times