Hungarian car manufacturing has arrived at a new milestone with the mass production of the first fully electric cars manufactured in Hungary, Péter Szijjártó, the minister of foreign affairs and trade, said on Friday.
Speaking at the launching event of the mass production of Mercedes’s electric EQB SUV in Kecskemét, Szijjártó said the 50 billion forint (EUR 1.4bn) investment, supported by a 15 billion government grant, marked the first step in “revolutionary reforms” in Hungarian car-making. The plant will preserve 4,400 new jobs and create hundreds of new ones, he said.
“Countries that win the competition for investments in electromobility win the future,”
the foreign ministry cited Szijjártó as saying.
EQB models will be exported exclusively from Hungary to markets worldwide, excluding China, Mercedes said in a statement. With the launch, the Kecskemet plant will be producing all types of motors, the statement said. Production will become carbon neutral by 2022, making the plant an important pillar of the production network on the long run, Mercedes said.
Brand new electromobility plant inaugurated in Western Hungary
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Meanwhile,
Hungary’s cash-flow budget deficit, excluding local councils, was 2,292 billion forints (EUR 6.3bn) at the end of September,
the finance ministry confirmed in a detailed reading of data on Friday. The shortfall widened by 391.3 billion forints from a month earlier.
“The outstanding growth of the Hungarian economy in the European Union as well as the
record-high employment data
show that crisis management based on tax cuts, investment incentives and support for families is working,” the ministry said, adding the government would carry on with economic stimulus and ensure all of the necessary resources to do so.
The central budget deficit came to 2,066.7 billion forints at the end of September, while the social security funds were 253.9 billion in the red.
Read also Hungary’s budget deficit brutal high, inflation skyrocketing
Source: MTI
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2 Comments
Astounding to me reading this article is the Fact, that these electric cars built in Hungary – will be excepted World Wide – excluding China.
The Chinese – Hungarian growing “marriage” embraced supported by our present Government, recently announced new warehouse facility to be built in Vac’s another example of our PARTNERSHIP – why in the subject of this article – why have CHINA said no to our Hungarian built electric cars being exported to THEM ?
Hungary – we do have a MASSIVE growing import policy with China – from Humans and across a wide market of our countrys Economic & Financial functioning.
WHY – have China said NO ?
WHY – do we not say to them CHINA – making this growing citizen un-popular marriage relationship – at least appearing a Leval playing field.
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