German engineering giant Robert Bosch will invest 14.1 billion forints (EUR 43.8m) at its automotive unit in the northeast Hungarian city of Miskolc, company executives told a press conference on Friday.
Hungary’s government is supporting the investment with a 2.65 billion forint grant, Foreign Minister Péter Szijjártó told the press conference.
Péter Szijjártó, Minister of Foreign Affairs and Trade, with Frank-Stephan Kupfer, CEO of Robert Bosch Energy Body and Systems. Photo by János Vajda/MTI
He noted the “outstanding” performance of Hungarian economy in an “extraordinary economic environment”. Companies announced 98 large investments at a record value of 1,380 billion forints, bolstered by a total of 135 billion forints government grants, he said.
Robert Bosch Energy and Body Systems makes vehicle parts, relays and electric drives. Among the parts it makes are next-generation products such as brake servomotors and ESP systems used in hybrid and electric cars. The current investment will add production lines for next-generation products as well as testing systems by 2021.
featured photo by János Vajda/MTI