Péter Szijjártó questioned by Hungarian Parliament over BYD ties

Former Hungarian Foreign Minister Péter Szijjártó appeared before a parliamentary National Security Committee on Monday to address his ties to the Chinese automaker BYD. Szijjártó resigned from politics in July to join BYD in an executive role focused on external relations and new business development.

The hearing follows allegations of a conflict of interest regarding Szijjártó’s role in facilitating massive state support for the company during his 12-year tenure as foreign minister. Prime Minister Péter Magyar informed lawmakers that Szijjártó assisted BYD with hundreds of billions of forints in public funds, diplomatic support, and infrastructure.

Szijjártó defended the investments, describing the factory establishment in Szeged as a “great success” and characterizing the government subsidies as being within the typical framework for investments of that scale. He attributed the controversy to “serious misunderstandings.” BYD is slated to establish its European headquarters and a research and development center in Budapest, receiving approximately €56.90 million in government assistance.