Continental invests 12.1 million euros in capacity expansion in Hungary

Car parts supplier Continental Automotive Hungary will invest 4.2 billion forints (EUR 12.1m) to expand capacity at its R+D centres in Budapest and Veszprém, in western Hungary, Péter Szijjártó, the minister of foreign affairs and trade, said on Monday.

The government is supporting the investment, which will preserve hundreds of jobs and create 70 new, high value-added ones, with a 1 billion forint grant, Szijjártó said.

Continental’s investment concerns artificial intelligence and software development, including that of sensor systems, the minister said.

The investment will be of key importance in a “revolutionary era” of the auto industry that will see increased reliance on AI and software development, he said.