BMW to build factory in Debrecen
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German car manufacturer BMW is to build an over 1 billion euro factory for the production of conventional and electric cars in the eastern Hungarian city of Debrecen, the minister of foreign affairs and trade, Peter Szijjarto, announced on Tuesday.
The factory to be built on a 400 hectare plot on the city’s outskirts will turn out conventional and electric cars using cutting-edge technology, he said.
It will have capacity to manufacture 150,000 vehicles a year, Szijjártó said, adding that the factory will start off with 1,000 employees.
Szijjártó said BMW will take ownership of the site in the second half of next year and will begin recruiting next year.
He said the investment would boost Hungary’s competitiveness and further strengthen Hungarian-German economic relations.
New technologies are constantly changing criteria for success, he said, adding that companies are continually competing for the application of new technologies while countries are always on the eye out for investment.
I love how Germany’s flag ship company chose Hungary, the EU bad-boy, as preferred location to build it’s new multi-million Euro factory. Speaks volumes on BMW’s confidence in its native country’s economic future don’t you think? Well done Debrecen – 100% deserved.