Szijjártó: Multinational automaker to bring giga investment to Hungary

Multinational automaker Stellantis is investing 45 billion forints (EUR 116.2m) in moving the “key element” of its electromobility strategy to Hungary, securing the future of the Opel plant in Szentgotthárd, in western Hungary, Péter Szijjártó, the minister of foreign affairs and trade, said on Monday.

Stellantis, which designs, manufactures and sells 16 automotive brands, will begin manufacturing electric engines at the Szentghotthard plant, Szijjártó said, adding that the company is also relocating its related R+D and testing activities there.

The investment, which is being supported with a 10 billion forint government grant, will create 110 jobs, the minister said.

Stellantis has manufacturing bases in 30 countries, meaning Hungary had to beat at least that many competitors to secure the investment, Szijjártó said.

Of the soon-to-be six carmakers present in Hungary, Stellantis is the only one operating under Hungarian management, he said.

Hungary last year attracted 209 foreign investments worth a combined 13 billion euros, which will create around 20,000 jobs, Szijjártó said.

It was these investments that had helped keep Hungary on a growth path even in more difficult times, he said, identifying the auto industry, and specifically the transition to electric vehicles, as the “flagship” of the economy’s success.

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