Hungary investigates deal with China’s BYD carmaker after ex-foreign minister takes job there

Hungary’s government announced an investigation Monday into a large foreign investment by Chinese automaker BYD negotiated by a former foreign minister who last week resigned from Parliament to take an executive position at the company.

Hungary’s government announced an investigation Monday into a large foreign investment by Chinese automaker BYD negotiated by a former foreign minister who last week resigned from Parliament to take an executive position at the company.

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Péter Szijjártó’s announcement last Wednesday that he would take the job at the world’s top electric carmaker prompted accusations of a conflict of interest and criticism over his role in facilitating substantial government subsidies to the company while in office.

Prime Minister Péter Magyar told lawmakers on Monday that Szijjártó, a close ally of former Prime Minister Viktor Orbán, had helped BYD while he was in office “with hundreds of billions (of forints) in public money, diplomatic support and state infrastructure.”