Bosch Automotive Steering to invest HUF 52.5 bln in Hungary

Automotive

German-owned Bosch Automotive Steering will spend a combined HUF 52.5 billion on three investments at its base in Maklár (108 km northeast of Budapest, Minister of Foreign Affairs and Trade Péter Szijjártó said.

The government is supporting the investments, which will create 180 jobs, with a HUF 12.25 bln grant, Szijjártó said.

The investments run the gamut, from R&D to production, he said. Production of next-generation electric steering will be moved to the base, he added, calling it an "important step" in the direction of self-driving vehicles.

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