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World
Hungary: Former Foreign Minister Szijjarto Joins BYD as Government Inquiry Opens
Herz — World Desk · · 30s summary · 2 min read
The essentials
Hungary's government has announced an inquiry into Chinese automaker BYD's investments in the country, triggered by former Foreign Minister Peter Szijjarto's move to the company. On July 20, 2026, Prime Minister Peter Magyar accused Szijjarto of having, during nearly 12 years in office, allowed BYD to receive hundreds of billions of Hungarian forints in public funds. Magyar also alleged he provided diplomatic support and state-funded infrastructure to the firm. Neither the former minister nor BYD have responded to the allegations. The inquiry will also examine subsidies and benefits granted to other multinationals under the Orbán era.
- Szijjarto joined BYD on July 15, 2026, after nearly 12 years as Hungary's foreign minister
- Prime Minister Magyar accuses Szijjarto of channeling hundreds of billions of forints to BYD
- Hungary's government opened an inquiry into BYD's investments in the country
- The inquiry extends to benefits granted to other multinationals under the Orbán regime
- Neither Szijjarto nor BYD have responded to conflict-of-interest allegations
What we know
On July 20, 2026, Hungarian Prime Minister Peter Magyar launched an inquiry into Chinese automaker BYD's multibillion investments in Hungary. The move follows the announcement that former Foreign Minister Peter Szijjarto would be joining BYD, according to Handelsblatt.
Szijjarto led Hungary's foreign affairs for nearly 12 years under right-wing populist Viktor Orbán. On July 15, 2026, he announced he was stepping down from his parliamentary seat to join BYD in an 'international position'.
Before Parliament, Magyar accused Szijjarto of allowing BYD to receive hundreds of billions of Hungarian forints—the country's national currency since August 1, 1946—in public funds while in office. Magyar also charged him with providing diplomatic support and state-funded infrastructure to the company.
The inquiry will not be limited to BYD. It will cover subsidies, tax benefits, permits, environmental waivers, and infrastructure projects granted to major international firms during the Orbán era. The goal is to determine who made the decisions, which warnings were ignored, and what costs were imposed on taxpayers, workers, municipalities, and the environment.
Context: Political shift changes the game
On April 12, 2026, Hungary's pro-European Tisza party—affiliated with the European People's Party group (Christian democrats), the largest bloc in the European Parliament with 188 seats—won a landslide victory in Hungarian elections. This result forced Szijjarto to relinquish his ministerial portfolio.
Timeline
- Nearly 12 years (until April 2026)Szijjarto leads Hungary's foreign affairs under Viktor Orbán.
- April 12, 2026Pro-European Tisza party wins Hungarian elections. Szijjarto loses his ministerial post.
- July 15, 2026Szijjarto resigns from his parliamentary seat and announces joining BYD in an 'international position'.
- July 20, 2026Prime Minister Magyar accuses Szijjarto of conflict of interest before Parliament and announces inquiry into BYD and other multinationals.
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