German engineering giant Bosch laid the cornerstone for a 37 billion forint (EUR 113.8m) expansion of its Budapest development centre on Tuesday.
Speaking at the ceremony, Foreign Minister Péter Szijjártó noted that the centre will create new opportunities for the development of electric and self-driving vehicles, adding that a 10,000sqm test track will also be built next to the centre.
Bosch invested 130 billion forints in Hungary over the past two years and concluded partnership agreements with 14 local colleges and universities, he said.
The investment, scheduled to be completed in 2021, will add 90,000sqms to the area of the facility. The centre employs almost 2,500 engineers, Oliver Schatz, its head, said. Klaus Peter Fouquet, President of Robert Bosch AG, said Hungary is of key importance to Bosch both in production and in development, adding that the company spent almost 55 billion forints on R+D in Hungary last year.
Bosch employs over 13,000 people in the country, 2,600 of which work in research and development, he said. The investment will create nearly 2,000 jobs for highly-qualified workers, he added.
Featured image: MTI