Austrian automotive industry company AVL has announced they will build a 12.5 billion HUF R&D base in Érd, creating new jobs and helping to stimulate the local economy.
Péter Szijjártó, Minister of Foreign Affairs and Trade, said the investment will create 350 jobs, including 250 for engineers.
The project is supported with a 3 billion HUF government grant and is part of the country's long-term research and development investment program.
Minister Szijjártó noted that the testing base will be the second in AVL’s network of R&D bases after the one in Graz, Austria, ahead of centers in China, Korea and Japan.
Hungary’s automotive industry has been on the rise over the past eight years, especially this year.
In the first half of 2018, the output of the Hungarian car manufacturing industry grew by 7 percent compared to the same period last year.