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Hungary’s automotive industry output up 7 pc in H1

Hungary’s automotive industry output up 7 pc in H1

In the first half on 2018, the output of the Hungarian car manufacturing industry grew by 7 percent compared to the same period last year, Foreign Minister Péter Szijjártó said in Győr, in northwestern Hungary, on Friday at the inauguration of the Qualitative Production (QP) company’s 6,000 sqm production hall.

The Hungarian government supported the 6.2 billion forint (EUR 19m) investment project with a 1.5 billion grant.

Szijjártó said the sector accounts for 29.3 percent of the manufacturing industry output and employs over 167,000 workers.

He mentioned Audi, BMW, Mercedes and Peugeot as industry leaders seeing Hungary as a “country worth investing in”. Their giant investment projects also benefit Hungarian SMEs, he said.

QP is a Hungarian family enterprise manufacturing engines and cylinders.

The latest investment has doubled its production capacity and created 120 jobs.

Featured image: MTI

Source: MTI

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