Daimler breaks ground for second plant in Hungary

Automotive

German carmaker Daimler laid the cornerstone of a EUR 1 billion plant at its base in Kecskemét (92 km southeast of Budapest) on Tuesday. Production at the factory is expected to start in 2020.

The new plant, Daimlerʼs second in Hungary, will create 2,500 jobs. It is being built on an area of 382,000 square meters and will have a press shop, a body-in-white shop, a paint shop and an assembly line, national news agency MTI reported.

The facility will be a "Full-Flex Plant," one in which "several vehicle architectures from compact models to rear-wheel drive sedans and various drive forms, including electric vehicles, can be flexibly produced on one line," said Markus Schafer, member of the divisional board of Mercedes-Benz Cars, Manufacturing and Supply Chain.

In addition to Schafer, Minister of Foreign Affairs and Trade Péter Szijjártó, Kecskemét Mayor Claudia Pataki Szemerey, and Christian Wolff, CEO of Mercedes-Benz Manufacturing Hungary, participated at the groundbreaking ceremony.

Szijjártó said the Hungarian government is supporting the investment with a EUR 37.5 million grant, adding that the ratio of Hungarian supplier contributions to the Daimler plantʼs output rose to 50% in 2017, from 30% in 2016.

Banking Sector Forint Liquidity up in February Banking

Banking Sector Forint Liquidity up in February

Budapest Residents to Weigh in on Rákosrendező Development P... Issues

Budapest Residents to Weigh in on Rákosrendező Development P...

Czech Industrial Output Stalls in January Manufacturing

Czech Industrial Output Stalls in January

These Are the Most Sleep-friendly Hotels in Hungary Hotels

These Are the Most Sleep-friendly Hotels in Hungary

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.