Soon, Hungary will be able to turn out more than 1 million cars and over 2 million engines a year, while it will have the second-largest battery manufacturing capacity in...
Minister Szijjártó said the electromobility transition as well as the economic interests of Hungary hinged on that East-West cooperation.
The foreign minister said that around 200 Spanish companies employ some 50,000 people in Hungary, and continue to invest in the country.
“We clearly established that the changes in the car industry will have the greatest impact on the future development of the European economy and that Hungary is among the global...
Minister Szijjártó said the projects will further strengthen Hungary’s position as a top investment destination in central Europe.
The foreign minister said that Hungary also happens to be competing for electric battery plants with countries that most strongly attack Chinese investments in their political communication.
The foreign minister said Europe has a fundamental interest in maintaining pragmatic and mutually beneficial economic cooperation with China.
According to official figures, the output of the automotive industry grew by an annual 34.5%, albeit from a low base, and up from 23.7% in the previous month.
The foreign minister identified the electric vehicle industry as the true meeting point of the East and the West, adding that the major Western car manufacturers would soon shift their focus to electric vehicles.
Audi Hungária is expanding its tools plant in Győr, in north-west Hungary, investing HUF 3.8 billion (EUR 10.5m).
Consumer confidence has edged up since the onset of the pandemic and the automotive industry has increased output in recent months.
15 June 2020, Győr
Japanese battery manufacturer GS Yuasa has built a battery assembly plant in the Miskolc industrial park with an investment of HUF 9 billion (EUR 26.8 million), to which the Hungarian government contributed a HUF 465.3 million non-refundable grant.