Rheinmetall Lays Cornerstone of Another Plant in Hungary

Manufacturing

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German defense industry company Rheinmetall laid the cornerstone of a EUR 63 million plant that will produce components for electric and hydrogen-powered vehicles in Szeged on Tuesday, according to a report by state news wire MTI.

Christoph Müller, who heads Rheinmetall's Division Power Systems, said the Szeged plant would be the company's first "hybrid" base, with civilian and defense technologies under the same roof. The 15,000s qm plant, next door to the ELI-ALPS laser research center, could be expanded later, he added.

The plant will be Rheinmetall's fourth base in Hungary, in addition to an armored vehicles plant in Zalaegerszeg, a munitions factory in Várpalota and a digitalization center in Budapest established together with Hungarian ICT company 4iG. It will employ 300 highly-trained professionals.

The plant will be Rheimetall's 22nd to support electromobility, Müller said.

He acknowledged Hungary's investor-friendly environment as well as the support of the government and the Hungarian Investment Promotion Agency (Hipa).

Defense Minister Kristóf Szalay-Bobrovniczky said Rheinmetall and the University of Szeged were building a new ecosystem and knowledge base that would create "extraordinary opportunities" for young Hungarians and foreigners. 

The plant will start operating at the end of 2025.

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