Hungary is the first European country to sign an inter-governmental cooperation document on Belt and Road cooperation with China. In recent years, under the strategic guidance of the leaders of both countries, the Belt and Road Initiative (BRI) has been aligned with Hungary’s “Opening to the East” policy, resulting in fruitful cooperation across various sectors.
Significant achievements have been made in green development areas such as new energy vehicles, lithium-ion batteries, and photovoltaic products, injecting new impetus into the mutually beneficial cooperation between China and Hungary.
The automotive industry is one of the pillars of Hungary’s economy. More than 10 out of the top 20 global automobile manufacturers have established vehicle manufacturing plants or automotive component production bases in Hungary.
To embrace green transformation in the transportation sector, the Hungarian government launched an electric vehicle development plan in 2016. Chinese electric vehicle companies have been closely cooperating with Hungarian counterparts, and their brand recognition has been continuously increasing.