PHOTOS: German electronic parts supplier inaugurated EUR 3.4m expansion

The Hungarian unit of German electronic parts supplier Hechinger inaugurated a 1.4 billion forint (EUR 3.4m) expansion at its base in Tiszakécske, in southeastern Hungary, on Friday.

Addressing the inauguration of the new workshop and storage facility, Peter Szijjártó, the minister of foreign affairs and trade, said the investment would create 70 jobs. Hechinger, a supplier of electronic components for the automotive, machine, construction and medical technology industries, has received a 276 million forint (EUR 661.8m) government grant in support of the expansion, the foreign ministry cited Szijjártó as saying.

Szijjártó said not even the existing uncertainty in the global economy could halt the ongoing revolution in the global auto industry. “The transition to electric vehicles is a one-way street which everyone has entered,” the minister said. Electric vehicles sales doubled last year to six million units and will exceed 10 million this year, Szijjártó said. Citing recent projections, he said electric vehicles will make up around 60 percent of new car sales by 2030.