BYD will build a new electric car factory in Hungary, becoming the first Chinese company to build cars in Europe.
The new factory will be in the city of Szeged, in the south of the country, where it is "expected to create thousands of local jobs".
Hungarian prime minister Viktor Orbán has said previously he expects a significant job boost in the region following substantial investments, but did not name BYD as a potential employer.
It is not yet clear which models BYD plans to build in Europe.
