A new HUF 39 billion investment by Chinese automotive supplier Evoring Precision Manufacturing will create 450 new jobs in Jászfényszaru, further strengthening Hungary’s leading role in Europe’s electric vehicle transition, Foreign Minister Péter Szijjártó said on Thursday.
According to a statement from the Ministry of Foreign Affairs and Trade, the minister spoke at the inauguration of Evoring Precision Manufacturing Kft.’s new plant, where the company will produce gears and shafts for the electric vehicle industry. The investment makes Evoring a market leader in Europe in its segment.
Szijjártó noted that the Hungarian government supported the project with HUF 7 billion, contributing to the creation of 450 new jobs in the region.
He added that over the past decade, Jász-Nagykun-Szolnok County has attracted 99 major corporate investments with a total value of HUF 510 billion, supported by HUF 130 billion in government funding. These projects have created approximately 5,200 jobs and significantly boosted regional economic performance.
As a result, the county’s annual industrial output has increased from HUF 1,300 billion to HUF 2,400 billion over the same period, the minister said.
Szijjártó emphasized that Hungary’s recent economic successes are closely linked to its emergence as one of the global frontrunners in the electric vehicle revolution. He said the Hungarian government was among the first in Europe to recognize the sector’s potential and to create the conditions necessary to attract large-scale investments.
He underlined that cooperation between Eastern and Western companies continues uninterrupted in Hungary. As a result, Hungary is now one of only three countries in the world where all three German premium automotive brands operate production facilities, a development that has also attracted numerous Chinese suppliers.
“The Chinese automotive companies investing in Hungary have brought the most advanced technologies and created highly modern jobs,” he said.
While German firms remain the largest group of investors in Hungary, Szijjártó noted that China has been the country’s largest source of new investment over the past three years.
“In the past eleven years, eighty Chinese corporate investments have been realized in Hungary, totaling HUF 7,000 billion and creating 36,000 new jobs,” he said.
The minister also referred to the successive global crises of the past decade and a half, noting that despite these challenges, Hungary’s economy has achieved remarkable results.
Today, he said, one million more people are employed in Hungary than ten years ago, the country has some of the lowest tax rates in Europe, and despite rising international energy prices, the government has maintained its regulated household utility pricing system.
Szijjártó warned, however, that in a fragile global environment, these achievements could be put at risk by ongoing uncertainties. “That is why the Hungarian government continues to firmly support peace and insists that Hungarian people’s money should be spent in Hungary,” he concluded.