The American firm will invest in producing parts for hybrid and electric vehicles, Szijjártó said. The government is supporting the investment, which will create 60 jobs, with HUF 5 bln, he added. BorgWarner employs more than 1,000 people in Hungary.
Output of Hungary's automotive industry reached HUF 12 trillion in 2022 and increased 18% in January-September this year, Szijjártó noted. U.S. businesses form the second biggest group of foreign investors in Hungary, while bilateral trade rose to a record high in 2022 and grew 11% in January-September this year, he added.
Plant director Attila Bogár acknowledged the government's support for the investment and said the company had "full confidence" in its workers. He added that competition for the investment was "tight" among BorgWarner group members.
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