After joining the European Union, Hungary has become the automobile manufacturing and assembly base of European countries and the parts supplier of large multinational enterprises, with a solid foundation of the automobile industry.
After the European debt crisis, the Hungarian government put forward the strategy of “developing eastward” and took electrification as a new development direction of the automobile industry, attracting relevant enterprises from China, Japan, South Korea and other countries to invest in factories through a series of friendly foreign investment policies.
Hungary has become a new investment hotspot for the power battery industry chain and the new energy vehicle supply chain.
In view of this background, Gesco focuses on discussing the development strategies and suggestions of Chinese enterprises to the Hungarian market from two aspects: the current market situation and the progress of going out to sea.
Macro overview and stable economic environment: Hungary has recovered rapidly from the haze of the epidemic, and the domestic economy has maintained steady development.
GDP growth is expected to be 2.
2% in 2024.
The Hungarian government implements 12 years of compulsory education and 19 years of free public education, and the labor force generally has a basic education level, but the low treatment leads to a serious outflow.
Policies guide enterprises to settle down: at present, Hungarian automobile industry clusters are mainly concentrated in the North Hungarian region, the Central Danube region and Debrecen.
Hungary attracts foreign investment through subsidies in the form of cash subsidies and tax concessions, and enterprises can receive up to 49.
5 million euros in cash subsidies and 80 per cent reduction in corporate income tax for 13 consecutive years.
By setting the proportion of subsidies, the Hungarian government guides enterprises to settle in priority development areas, and Sino-Hungarian relations are friendly: Hungary is one of China’s main trading partners in Central and Eastern Europe.
The two sides signed a number of bilateral trade agreements and framework cooperation agreements, and the total bilateral trade between China and Hungary reached 14.
52 billion US dollars in 2023.
Hungary is also one of the important distribution centers of central European trains.
At present, there are many trains directly to Budapest, the market pattern, the layout of the automobile industry: after joining the European Union in 2004, Hungary has become a complete vehicle manufacturing and assembly base and a parts supplier for large multinational enterprises, the automobile industry is developing rapidly, and traditional parts enterprises: at present, international leading enterprises of parts and components have layout in Hungary.
The production capacity can radiate the whole Europe.
The main industrial chain is still dominated by traditional auto parts, and mainland, Magna and Xinbang Electronics actively lay out new energy automobile parts, but the overall layout is relatively scattered.
The whole vehicle enterprise situation: Hungary has achieved results by directly subsidizing to attract car companies to build factories, and BYD plans to build Europe’s first new energy vehicle production base in Hungary.
Traditional car companies have increased investment in the expansion of electric vehicle production lines on the basis of existing factories.
Volkswagen, BMW, Suzuki and other car companies plan to put into production pure electric models in 2025.
Power battery companies: Hungary plans to surpass 207GWh in power battery capacity by 2031, ranking second in Europe.
At present, in addition to upstream raw material manufacturers, all other new energy vehicle upstream and downstream related industries have enterprise investment layout, the main players include Ningde era, Yiwei LiNeng, SK innovation, Samsung SDI and other head power battery companies, passenger car sales: Hungarian car sales continued to decline after the COVID-19 epidemic, sales of 108000 units in 2023.
Power types: BEV, PHEV and HEV have all increased in varying degrees.
New energy vehicles sold 113000 units in 2023, an increase of nearly 10, 000 units compared with the same period last year.
Car companies: the market is dominated by German and Japanese cars, with Toyota and Suzuki in the top two.
Independent brand sales of 1959 units in 2023, low market share, future market outlook: considering that BMW, Suzuki, Mercedes-Benz, BYD and other car companies will be put into production in 2025, new energy vehicles will become a new growth point of passenger car production in Hungary.
It is estimated that the total output of vehicles in 2030 will exceed 800000, of which the output of new energy vehicles will reach 300000, accounting for nearly 40%.
Strategic recommendations, the main strategies of spare parts enterprises:, the main strategies of the whole vehicle enterprises: / obtain complete reports /, welcome to scan the code order, the annual service of the Global Automotive Research Institute, return to the home page of the first electric network >.
