Speaking at the event, Minister of Foreign Affairs and Trade Péter Szijjártó acknowledged German carmaker Audi's "very, very large" contribution to making Hungary's automotive industry competitive on a global scale.

He said the company had played a "leading role" in bringing the local vehicle manufacturing sector "to a higher dimension" by involving Hungarian engineers in global developments.

Audi Hungária launched its Technical Development unit in 2001 and added engine and vehicle development in 2012. Today the Technical Development unit is Audi AG's third-largest development hub, employing over 500 highly-trained experts. In the next two years, Audi Hungaria will plow several billion forints into the unit.