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Innovation & Technology

Hungarian vehicle manufacturing remains key sector

The government's ambition is for the economy to be Hungarian, high-tech and green, and industrial development and technological change are in line with this approach.

At a press conference in Budapest on Wednesday to present the Kravtex-Kühne Group’s Credobus Econell 12 Next bus, Minister of Technology and Industry László Palkovics said that despite the protracted Russian-Ukrainian war, the Hungarian economy expanded by 6.5 percent in the second quarter. Industry is also performing well, and for the first time in June and July, 4.7 million people worked in Hungary for two consecutive months.

On the Hungarian car industry, he said that Hungary is building up significant battery production capacity, and the innovation ecosystem around the Zalaegerszeg automotive test track will help research and development.

There are four bus factories in Hungary, including the Kravtex-Kühne Group, which operates the country’s largest and most modern bus factory in Mosonmagyaróvár and Győr, with significant production capacity in the Central and Eastern European region. 

The Credobus Econell 12 Next bus on show uses more than 4,000 liters less fuel per year than other buses. The production of Credobus will create around 5,000 jobs and provide work for another 100 Hungarian SMEs, and the group is expected to introduce battery and hydrogen fuel cell versions of the buses soon, he said.

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