Brand new electromobility plant inaugurated in Western Hungary
Trade turnover between Hungary and Germany is expected to hit a record and surpass € 60 billion this year, Péter Szijjártó, the minister of foreign affairs and trade, said on Friday in Szombathely in western Hungary, where he attended the inauguration of a new plant of the Schaeffler Group.
The factory of the German conglomerate will manufacture parts connected to electromobility, and will create 200 new jobs, Szijjártó said. The government supported the HUF 23.5 billion (€ 67.1 million) green-field investment with a HUF 5 billion (€ 14.2 million) grant, he added.
Hungary is leading the way with the biggest increase in electric vehicles
Schaeffler currently has 3,000 employees in Hungary, he said.
The electric car industry “is the future”, Szijjártó said at the event. Hungary has seen 34 large investments in the sector in the past five years, he said.
Hungary is also the 13th largest car part exporter in the world, with cutting-edge technology that continues to draw further investors, he said.
Hungary one of world’s automotive centres
Szijjártó called Hungarian-German economic ties a “success story”, noting that some 6,000 German companies employ 300,000 Hungarians.
Source: MTI
please make a donation here
Hot news
OLAF to investigate EUR 1.8 million luxury mini nursery in Hungary
Seven-time Grammy Award-winning singer Alanis Morissette to perform in Budapest
Hungarian national economy minister meets with banking association representatives
Christmas in Budapest: Palace District awaits with cosy Advent programmes
Hungarian opposition Mi Hazánk MP fined to EUR 2,690 for vandalism – Here’s a video of what he had done
Hungarian opposition DK to nominate own candidates in all 106 individual constituencies in 2026