Samsung SDI will carry out a 390 billion forint (EUR 1.17m) expansion of its battery plant in Göd near Budapest, creating 1,200 new jobs, Foreign Minister Péter Szijjártó said on Thursday.
The state will provide non-refundable support for the project, though the amount cannot be revealed pending approval by the European Commission, he said. The sum reflects the size and significance of the investment, he added.
Thanks to the investment project, Hungary will secure its place as one of the top cities for European car production in the new era of car manufacturing, he said.
In the featured photo: Samsung SDI Hungary senior managing director Woo-Chan Kim. Photo by Márton Mónus/MTI