The government will provide HUF 2 billion in support for these investments, the Minister of Foreign Affairs and Trade announced in Budapest on Tuesday. Péter Szijjártó emphasized that the developments will protect 5,300 jobs.
The investments are significant because the automotive industry is critical for both the global and the Hungarian economy. Alpine European Electronics Industry Ltd. in Biatorbágy, DENSO Manufacturing Hungary in Székesfehérvár and Diamond Electric Hungary Kft. in Esztergom are among the most important suppliers in the global automotive industry, and their developments will help Hungary maintain its leading position in the sector in Europe, he added.
The three companies are introducing new production technology, increasing the supplier capacities available to the auto industry in Hungary.
The investments will ensure that the automotive industry continues to be a driving force in Hungary’s economy, Péter Szijjártó said.