Chervon Auto to set up HUF 17.5 bln car parts plant in Hungary

Automotive

Chinese-owned Chervon Auto will set up a HUF 17.5 billion car parts plant in Miskolc (148 km northeast of Budapest), Minister of Foreign Affairs and Trade Péter Szijjártó said on Monday, according to a press release sent to the Budapest Business Journal.

The government is supporting the investment, which will create 138 jobs, with a HUF 5.3 bln grant, Szijjártó said.

The plant will turn out 2 million parts a year, for combustion engine and electric vehicles.

The 26,000 sqm plant will be Chervon Autoʼs first outside of China, Szijjártó said. The investment will further strengthen cooperation between Hungary and China, he added.

ADVERTISEMENT

Pandemic has only moderate impact on big companies Analysis

Pandemic has only moderate impact on big companies

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.