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Bosch is expanding the activities of its Miskolc-based company in northern Hungary, part of its electric drive business. Robert Bosch Energy and Body Systems Kft., 20 years old this year, will implement two investments worth a total of more than HUF 18 billion (EUR 46.9 million) by mid-2025, reports Magyar Nemzet.
The company will spend more than HUF 4.4 billion (EUR 11.4 million) to further expand the development and testing of electric drives in Miskolc, and will also spend nearly HUF 13.6 billion (EUR 35.3 million) to expand its production capacity.
The two investments will be supported by the Hungarian state through a total of around HUF 3 billion (EUR 7.8 million) in non-refundable cash grants under an individual government decision. The investment will create a total of 170 new jobs.
The investment in Bosch’s automotive plant in Miskolc aims to strengthen the company’s development activities, competences, and related manufacturing infrastructure, as well as to create even stronger synergies between product and process development activities and production areas. In addition, the company will expand the capacity of assembly lines for the production of several product types currently in production in Miskolc, such as the air conditioning motor, the engine cooling fan, and the new generation of eBike drives.
The announcement of the investments was attended by Minister of Foreign Affairs and Trade Péter Szijjártó. In his speech, the minister noted that the success of a national economy depends to a large extent on its ability to use and adopt innovative technologies, and in the case of Hungary,
the value of Research&Development spending reached a record high of HUF 920 billion (EUR 2.4 billion) last year.
Today, the number of people working in this field is around 95,000, and hopefully it will soon reach 100,000, he added.
“Bosch is a German company, and especially in the current period, when we hear about various attempts to exert pressure, about some kind of blackmail or conceptual experiments,
it is always good to say that German companies continue to have confidence in Hungary,”
the Minister stressed. He also pointed out that German companies make up the largest investor community in Hungary, and trade turnover has also set another record, with the highest ever figure for a six-month comparison of last year’s figures already exceeding last year’s by 10 percent this year.
Fortunately, despite the discouragement, companies are still coming in droves with new investments. As a result of this, apart from Germany and China, Hungary is the only country with manufacturing capacity for all three major German premium car brands, and several of the world’s seven largest electric battery manufacturers are already operating here.
Via Magyar Nemzet, Featured image via Facebook/Niki Fehér/Bosch Miskolc Munkalehetőségek
