R&D projects account for an increasing proportion of domestic investments, Minister Szijjártó said, describing this as a positive spiral boosting production and R&D.
The company employs about 3,000 people in Budapest working on future automotive industry technologies, including several hundred engineers tasked with electromobility developments.
The launch of a four-year research and development project is being supported by a HUF 1.2 billion grant from the Innovation and Technology Ministry.
Under the agreement signed by the ministries, a V4-Korea program for basic research will be launched.
Research and development spending totalled HUF 770 billion in Hungary last year, some 10 percent more than in 2019.
Péter Szijjártó, Minister of Foreign Affairs and Trade, said the investment, which will create jobs for at least 100 Hungarian engineers, is Huawei’s third in Hungary.
The strategy was prepared with the involvement of over 250 member organizations of Hungary’s AI Coalition and over a thousand experts identified focus areas and highlighted projects.
Hungary’s research and development spend came to more than HUF 654 billion (EUR 2bn) in 2018, up 27 percent from a year earlier.
“Looking at the growth rate of Hungary it is obvious that Hungary has used those [EU] funds well to benefit its people," Chancellor Merkel said.
Innovative new eFusion electric planes to be built in Pécs
29 May 2017, Göd
The prime minister said that by 2019 there should be between 3,500 and 4,000 electric car charging stations around Hungary and by 2020 some 63,000 electric vehicles on the roads
The prime minister said the Extreme Light Infrastructure (ELI) Laser Research Centre is the largest scientific development project in modern Hungarian history