Bosch to Build HUF 4.2 bln Development Base in Zalaegerszeg

Innovation

German engineering giant Bosch laid the cornerstone for a HUF 4.2 billion development base in Zalaegerszeg, which will create 200 highly qualified jobs, Minister of Foreign Affairs and Trade Péter Szijjártó said at the ceremony on Monday, according to a report by state news wire MTI.

The facility, where Bosch will conduct development and testing relating to autonomous driving, is expected to be completed in 2025, next door to the ZalaZONE vehicle test track.

The investment is supported by a HUF 1.2 billion government grant, the minister said. 

Szijjártó said that all three premium German car brands, which apart from Germany and China only have production bases here, as well as other leading German companies in autonomous driving, see Hungary as an important research location.

He added that the government aims to attract the biggest and most technologically advanced investments to Hungary, which are key to maintaining economic growth. He said the country has become one of the European strongholds of the electric car industry, partly due to the low taxes that production and development companies are subject to here.

Finally, he noted that German companies are the largest investor community in Hungary, bilateral trade broke a record last year and grew 8% in the first half of this year, exceeding EUR 32 bln. 

Representatives of Széchenyi István University and the Bosch group signed a memorandum of understanding for cooperation at the event.

The 3,500 sqm Bosch R&D and Test Campus Zalaegerszeg will focus on autonomous driving, electromobility and technologies using AI, Bosch said in a statement. 

Bosch employs close to 4,000 workers in R&D in Hungary, and this number will increase with the new R&D base. 

Ministry Dismisses Suggestion That Hungary is 'Poorest' EU S... Figures

Ministry Dismisses Suggestion That Hungary is 'Poorest' EU S...

Economic Cooperation 'Firm Foundation' for German-Hungarian ... Int’l Relations

Economic Cooperation 'Firm Foundation' for German-Hungarian ...

IWG Adds 2 New Regus Offices in Hungary Office Market

IWG Adds 2 New Regus Offices in Hungary

Sziget Tops Slingo Music Festival Ranking In Budapest

Sziget Tops Slingo Music Festival Ranking

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.