Car manufacturing in trouble in Hungary? 1 new plant and a new production hall inaugurated just today
Robert Bosch Automotive Steering Ltd inaugurated a HUF 46bn plant in Maklár (NE Hungary) on Friday. Furthermore, SK-Precíziós Szerszámgyártó inaugurates HUF 2.1bn production hall.
The investment was supported by HUF 10.5bn from the state, Minister of Foreign Affairs and Trade Péter Szijjártó said at the ceremony. He added that Hungary’s GDP growth was set to accelerate noticeably in 2025, in part because of automotive industry investments.
In two years, after manufacturing investments by Mercedes, BMW and BYD are completed, he said Hungary would be among five European countries that turn out an annual 1 million cars. Szijjártó noted that German-owned companies employed about 300,000 people in Hungary.
Robert Bosch Automotive Steering Kft managing director Michael Zink said the 37,000sqm multifunctional building would serve logistics purposes and house production of limited series products. The Bosch group in Hungary had net revenue of HUF 2,207bn in the 2023 business year.
SK-Precíziós Szerszámgyártó inaugurates HUF 2.1bn new production hall
German-owned precision tool maker SK-Precíziós Szerszámgyártó inaugurated a HUF 2.1bn production hall in Sárospatak (NE Hungary) on Friday. The state supported the investment, which created 50 jobs, with HUF 750m, Szijjártó said at the ceremony.
The plant is the German owner’s first abroad and creates an opportunity for local suppliers, he added. Last year, bilateral trade between Hungary and Germany reached EUR 70bn, he noted. Over the past ten years, German companies have invested HUF 3,800bn in Hungary, creating almost 40,000 jobs, he added.
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