The government is supporting the investment with a HUF 770 million grant, the minister said.
He noted that German businesses operating in Hungary now employ 300,000 people in the country.
Thyssenkrupp's investment is based on a strategic partnership that was strengthened in a contract signed by the company and the government five years ago, he added.
Marc de Bastos Eckstein, managing director of thyssenkrupp Components Technology Hungary said they had already started hirings for the base, which will employ 80 highly qualified development engineers. He noted that Hungary's automotive industry and the proximity of the Veszprém university played an important part in selecting the location for the investment.
The company employs 2,300 people in Hungary, including almost 900 highly qualified engineers at its automotive development center. It has production plants in Jászfényszaru, Debrecen and Győr.
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