FRANKFURT -- Chinese electric vehicle giant BYD plans to build its first European car factory in Hungary, a German newspaper reported.
BYD has made the decision, the Frankfurter Allgemeine Sonntagszeitung reported, citing unnamed sources close to the automaker.
A government website in Shenzhen, where BYD is headquartered, posted an article last month saying that Hungary's Prime Minister Viktor Orban met BYD Chairman and President Wang Chuanfu on a visit to the company.
BYD, contacted by Reuters, said that it was still looking for the right location and would make an announcement at the end of the year.
The Hungarian government did not immediately respond to requests for comment.