Stellantis said it would invest EUR 103 million at the plant in Szentgotthárd which currently builds 1.2-liter turbocharged three-cylinder and 1.6-liter four-cylinder internal combustion engines used in a variety of Stellantis brand vehicles.
Production of EDMs will be housed in existing buildings at the plant. Stellantis employees there will undergo upskilling training to support the machining and assembly requirements of EDM production.
Minister of Foreign Affairs and Trade Péter Szijjártó announced earlier on Monday that the government would support Stellantis' investment in Szentgotthard with a HUF 10 bln grant. The investment will create 110 jobs, he said.
Stellantis is investing more than EUR 50 bln in electrification over the next decade to achieve a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. To achieve the sales targets, the company is securing around 400 GWh of battery capacity, including support from six battery manufacturing plants in North America and Europe.
In November, Stellantis and Chinese battery maker CATL signed a memorandum of understanding on the local supply of LFP battery cells and modules to power Stellantis' electric vehicle production in Europe.
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