Former Hungarian Foreign Minister Szijjártó Joins BYD to Lead External Relations and New Business Development

Péter Szijjártó, former Minister of Foreign Affairs of Hungary, announced on July 15, 2025, his resignation from his seat in the Hungarian Parliament to officially join BYD Company as a senior executive. In this role, he will oversee external relations and lead the development of new business segments. Szijjártó served as Hungary’s foreign minister for nearly 12 years and has been a member of parliament continuously since 2002. He stepped down as foreign minister following the change of government after Hungary’s general election in April 2025 but retained his parliamentary seat until his recent resignation. During his tenure, Szijjártó actively promoted investment by Chinese electric vehicle (EV) companies in Hungary and spearheaded negotiations for BYD’s construction of its first European vehicle manufacturing plant in southern Hungary. The project was officially announced in 2023 and described by him as “one of the largest investments in Hungarian economic history.” The Hungarian government provided an undisclosed amount of financial subsidies for the initiative. In 2025, Szijjártó further announced that BYD would establish its European headquarters and a research and development center in Budapest, supported by 20 billion Hungarian forints (approximately USD 63.7 million) in government funding. The establishment of the factory enables BYD to circumvent the high import tariffs imposed by the European Union on Chinese-made electric vehicles. During his time in office, Szijjártó also facilitated investments in Hungary by multiple Chinese battery manufacturers and supported the China-Hungary collaboration on the Belgrade–Budapest railway project, which is part of China’s Belt and Road Initiative.