Hungary's ex-foreign minister Szijjártó joins BYD

Key facts

• Péter Szijjártó, former Hungarian Foreign Minister, resigned from parliament.
• He will assume an international executive role at Chinese EV maker BYD.
• Szijjártó's new responsibilities include external relations and new business development.
• Prime Minister Péter Magyar criticized Szijjártó for allegedly lobbying for BYD while in office.
• BYD is establishing its primary European production hub with a factory in Hungary.

Former Hungarian Foreign Minister Péter Szijjártó has resigned from his parliamentary seat to take an international executive position at Chinese electric vehicle manufacturer BYD. Szijjártó announced the move on Facebook, stating he accepted a "highly prestigious offer" to lead the company's external relations and new business development.

His transition follows the recent election victory of Prime Minister Péter Magyar, who has criticized Szijjártó. Magyar accused Szijjártó of representing foreign interests and lobbying for state subsidies for BYD during his time in government. Szijjártó, a long-time ally of former Prime Minister Viktor Orbán, served as foreign minister for nearly 12 years.

BYD is establishing its main European production hub with a significant car assembly factory in Hungary. Szijjártó played a central role in securing this investment, which involved 224 rounds of negotiations between BYD and the Hungarian government. The project is considered one of the largest investments in Hungarian economic history.

The move occurs amid growing trade tensions between the European Union and China, with Brussels seeking to protect its market from Chinese overcapacity.