Hungary's government is supporting the development with a HUF 518 million grant, he added.
The investment will preserve 900 jobs and will create 30 for highly qualified engineers, the minister said.
Balluff's sensors are used in the factories of Audi, General Motors, and Mercedes, including the production lines of Hungary-based automotive plants, Szijjártó noted.
Tamás Ötvös, managing director of Balluff Elektronika said the Veszprém production plant is the group's second largest base.
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