The Hungarian Government will provide a non-refundable grant of HUF 770 million in support of the investment, Minister of Foreign Affairs and Trade Péter Szijjártó announced at a press conference in Budapest on Thursday.
The minister emphasized that the investment will help Hungary maintain its leading role in the European automotive industry.
Thyssenkrupp’s investment is based on a strategic partnership that has been confirmed via a five-year contract, the minister said. Thanks to the development, Hungarian engineers with their globally competitive knowledge can help shape the future of the automotive industry, he added.
Marc de Bastos Eckstein, CEO of Thyssenkrupp Components Technology Hungary, said that 80 well-trained development engineers will be hired; applications for these positions are already open.
Thyssenkrupp’s products can be found in nine out of ten premium cars. The company currently employs 2,300 people in Hungary, with nearly 900 highly qualified engineers in its automotive development center in Budapest, where, for example, a smart power-steering system is being developed. The company manufactures electromechanical steering servos and camshafts integrated in the cylinder head in Jászfényszarun and stabilizers and springs in Debrecen, plus has a chassis assembly plant and service center in Győr.