Austrian engineering company AVL laid the cornerstone on Monday of a HUF 12.5 billion regional development center in Érd, on the southwestern outskirts of Budapest, state news agency MTI reported.
The government is backing the investment with a HUF 3 bln grant, Minister of Foreign Affairs and Trade Péter Szijjártó said. The center will create 350 jobs, including 253 highly skilled positions, he added.
AVL Hungary Managing Director Dirk Janetzko said staff at the center would work to find solutions to reduce the emissions of various types of engine. He predicted that by 2030, 70% of vehicles will be hybrid and 30% fully electric.
“The dynamic development of the Hungarian automotive industry is indicated by the 11% growth posted for the first four months of this year, with which the sector’s production value reached HUF 3,220 bln,” Szijjártó was cited as saying by official government website kormany.hu. “The production value generated by the sector has more than doubled over the past eight years, increasing from HUF 4,000 bln in 2010 to HUF 8,500 bln in 2018,” he added, noting that 91% of production goes to export.