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    Home > Finance > BYD names voestalpine as steel supplier for its Hungarian auto plant
    Finance

    BYD names voestalpine as steel supplier for its Hungarian auto plant

    Published by Global Banking & Finance Review®

    Posted on June 25, 2025

    1 min read

    Last updated: January 23, 2026

    BYD names voestalpine as steel supplier for its Hungarian auto plant - Finance news and analysis from Global Banking & Finance Review
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    Tags:partnershipAutomotive industry

    Quick Summary

    BYD has chosen voestalpine as the steel supplier for its Hungarian plant, marking a key step in its localization strategy.

    BYD Selects Voestalpine as Steel Supplier for Hungarian Plant

    BEIJING (Reuters) -Chinese automaker BYD said it signed an agreement with Austrian steelmaker voestalpine on Tuesday, selecting it as the steel supplier for BYD's passenger vehicle plant in Hungary.

    The cooperation marks an important step in BYD's localisation strategy, the company said in its statement posted on its social media account on Wednesday.

    (Reporting by Beijing Newsroom. Editing by Janer Merriman)

    Key Takeaways

    • •BYD selects voestalpine as its steel supplier for the Hungarian plant.
    • •The agreement is part of BYD's localization strategy.
    • •The partnership was announced on BYD's social media.
    • •Voestalpine is an Austrian steelmaker.
    • •This move supports BYD's European market expansion.

    Frequently Asked Questions about BYD names voestalpine as steel supplier for its Hungarian auto plant

    1Who is the steel supplier for BYD's Hungarian plant?

    BYD has named Austrian steelmaker voestalpine as the steel supplier for its passenger vehicle plant in Hungary.

    2What does this agreement signify for BYD?

    The cooperation marks an important step in BYD's localisation strategy, indicating their commitment to local sourcing.

    3When was the agreement between BYD and voestalpine signed?

    The agreement was signed on Tuesday, as reported by BYD in a statement posted on its social media account on Wednesday.

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