Neuzer to Set up E-bike JV With Chinese Partner
Neuzer Kerékpár, the country's biggest Hungarian-owned bicycle maker, will soon set up a joint venture with a Chinese partner to produce 150,000 e-bikes a year, managing director András Neuzer said at the company's plant in Esztergom (about 39 km northwest of Budapest) on Thursday.
Production at the JV, 51% owned by the Chinese partner, could start in 2026, on a 30,000 sqm plot purchased next to Neuzer Kerékpár's plant, Neuzer said.
He also said Neuzer Kerékpár is plowing HUF 750 million into its existing base, adding 1,820 sqm of warehouse space along with equipment to make wheels for e-bikes. Neuzer Kerékpár won HUF 300 mln in grant money for the project which will finish in September, he added.
Neuzer Kerékpár turns out close to 80,000 bicycles a year. Last year, it sold 27,300 e-bikes and targets sales of over 40,000 in 2023.
The company exports over half of its output to markets in Belgium, the Netherlands, Germany, Romania, Sweden, Slovakia, and Slovenia. The company, which employs 150, had a revenue of HUF 7.2 bln last year.
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