Budapest, October 19 (MTI) – Audi Hungaria is investing 32 billion forints (EUR 100m) in its Győr plant in western Hungary, with a government subsidy of 6 billion forints.
Signing on Monday a cooperation agreement between the government and the Hungarian unit of German carmaker, the foreign and trade affairs minister, Péter Szijjártó, noted that the company plans to produce more efficient engines with the investment creating 380 jobs.
Szijjártó said that the excellent performance in Hungary’s car industry is proof that the country’s aim since 2014 to become a production hub for Europe has been the right strategy.
Investment decisions concerning the vehicle industry, and its performance, have played an important role in putting the Hungarian economy on a path of sustainable growth in 2014, he added.
Car industry developments are important, not only because they create jobs, but also because high-quality products are manufactured that contribute to the economy’s export performance, he said. Meanwhile, skilled workers are trained, thereby maintaining Hungary’s competitiveness, he added.
Audi is a flagship of Hungary’s economy, he said, noting it manufactured 2 million engines last year and production was further increased in the first half of this year, so by the end of 2016, another record is expected to be set by Audi’s Győr plant, he said. Audi’s investment makes Hungary-Germany cooperation even closer, he added.
Audi Hungaria Motor managing director Peter Koessler noted the company has invested 7.4 billion euros in Gyor since 1993. He added that Hungary was the most attractive production country in central and eastern Europe, and the government had created the right conditions.