Continental investing HUF 25.6 bln at plants in Hungary

Automotive

Photo by Lens Hitam / Shutterstock.com

German automotive industry supplier Continental will spend HUF 25.6 billion to install production lines for next-generation vehicle electronics at its bases in Budapest and Veszprém, Minister of Foreign Affairs and Trade Péter Szijjártó said on Wednesday, according to a report by state news wire MTI.

Photo by Lens Hitam/Shutterstock.com

The government is supporting the investment, which will preserve 4,127 jobs, with a HUF 7.7 bln grant, Szijjártó said.

Continental Automotive Hungary managing director Róbert Keszte noted that the group has been a strategic partner of the Hungarian government since 2013, and that partnership continues during the coronavirus crisis, too.

Continental has seven plants, a logistics base, and a development center in Hungary. 

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