AsianFin -- Chinese electric vehicle giant BYD plans to establish a European center in Hungary, CEO and President Wang Chuanfu announced on Thursday during a joint press conference with Hungarian Prime Minister Viktor Orban in Budapest.

Wang said the new facility will create 2,000 jobs and serve three main functions: acting as a hub for sales and after-sales services, conducting vehicle testing, and developing localized versions of BYD models for the European market.