China-based electric vehicle manufacturer BYD has announced that it has reached an agreement with Austrian steelmaker Voestalpine AG for the supply of steel for its new passenger car plant in Hungary.
Starting from this fall, Voestalpine will ship steel sheets from its Linz plant to BYD’s Szeged plant in Hungary for the production of car bodies and outer panels. This collaboration establishes Voestalpine as one of BYD’s first official suppliers for its new plant, which is expected to begin operations by late 2025. It also lays the groundwork for a long-term partnership.
BYD stated that it chose Voestalpine for its geographical proximity to the plant and its high-quality steel. This will allow BYD to support domestic suppliers and production within the EU as part of its localization strategy. The Chinese manufacturer is also continuing talks with hundreds of other potential suppliers as it prepares for the opening of the Szeged plant.