The Hungarian government launched an investigation into the investment by Chinese electric vehicle maker BYD, Prime Minister Péter Magyar announced on Tuesday, following the departure of former Foreign Minister Péter Szijjártó from parliament to take an executive role at the company.
Magyar said Szijjártó channelled hundreds of billions of forints in public funds, diplomatic backing, and state infrastructure to BYD during his tenure. The probe will examine subsidies, tax benefits, permits, environmental exemptions, and publicly funded infrastructure granted to major multinationals throughout Viktor Orbán's years in government.
Szijjártó announced in 2023 that BYD would build its first European factory in Hungary, and in 2025 he said the company would establish its European headquarters and a research centre in Budapest with 20 billion forints in state support. During the 2026 election campaign, Szijjártó faced controversy after the Washington Post reported he had held regular phone calls with Russian Foreign Minister Sergey Lavrov.