Indian automotive industry supplier Samvardhana Motherson Group (SMG) inaugurated a HUF 5 billion expansion at its base in Túrkeve (SE Hungary) on Wednesday, state news wire MTI reported.
The investment, by SMGʼs molded plastics division, Motherson Automotive Technologies & Engineering (MATE), is supported by a HUF 1.5 bln government grant, said Minister of Foreign Affairs and Trade Péter Szijjártó. The investment will create 100 jobs, he added.
SMG owner Vivek Chaand Sehgal delivered a speech at the ceremony.
MATE will build a 12,000 square-meter plant at the base, next to a factory inaugurated by SMG group member Samvardhana Motherson Reflectec (SMR) in the fall of 2016.
SMG employs more than 3,500 people and has more than 105,000 sqm of production space in Hungary. Its plants supply the Porsche, Audi, Volkswagen, Suzuki, Honda, Mercedes and Peugeot brands, among others.
In addition to Túrkeve, SMG has Hungarian plants in Mosonszolnok, Mosonmagyaróvár, Hegyeshalom, and Kecskemét.