BUSINESS

Hungary’s Prime Minister-Elect Keeps Door Open to Chinese Investment

Published: Apr. 15, 2026 7:03 p.m. GMT+8

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Hungary’s prime minister-elect Péter Magyar. Photo: VCG

Hungary’s prime minister-elect Péter Magyar said that he is open to Chinese investment, while setting clear conditions that foreign companies must comply with local regulations.

During his first press conference on Monday after the election win, Magyar expressed willingness to engage with Chinese leaders, saying that cooperation with China, which he described as “one of the world’s most powerful countries” is “in the interest of both nations.”

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Hungary’s PM-elect Péter Magyar open to Chinese investment if complying with EU/local rules and benefiting economy.
Wants Hungarian firms as partners to BYD, CATL.
Hungary attracted €7.1B investment in 2025, 57% from China; EV focus with BYD plant in 2026.

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Who’s Who

BYD Co. Ltd.: BYD Co. Ltd. established a local electric bus factory in Hungary in 2016 and plans to begin production at its first European passenger vehicle plant there in 2026. In mid-2025, it announced its European headquarters in Budapest, focusing on intelligent driving and next-generation electrification. Hungary's PM-elect Péter Magyar wants Hungarian firms as partners for BYD.

Contemporary Amperex Technology Co. Ltd. (CATL): CATL, a major Chinese lithium battery manufacturer, has planned facilities in Hungary since 2022 to supply European automakers. Hungary's prime minister-elect Péter Magyar welcomes CATL investment, provided it complies with local and EU regulations on environment, health, and safety, while positioning Hungarian firms as partners. This supports Hungary's role as a gateway for Chinese EV supply chain investments.

EVE Energy Co. Ltd.: EVE Energy Co. Ltd., a Chinese lithium battery giant, has planned local facilities in Hungary since 2022 to supply European automakers, alongside CATL and Sunwoda. This expansion leverages Hungary's EV supply chain and stable business environment.

Sunwoda Electronic Co. Ltd.: Sunwoda Electronic Co. Ltd., a Chinese lithium battery giant, has planned local facilities in Hungary since 2022 to supply European automakers, alongside CATL and EVE Energy. This supports Hungary's EV supply chain growth, attracting suppliers.

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