Continental Announces HUF 18.8 bln R&D Investment

Innovation

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German-owned automotive industry company Continental on Thursday announced plans to invest HUF 18.8 billion to expand its R+D activities in Hungary by the end of 2024, according to a report by state news wire MTI.

The investment, in three big projects, will create 280 engineering jobs, state secretary Levente Magyar said. Continental has plowed close to HUF 100 bln into its operations in Hungary since 2010, he added.

The government is providing combined support of close to HUF 4 bln for the projects.

Continental said most of the new jobs would be at the bases of Continental Autonomous Mobility Hungary in the capital, Debrecen and Szeged.

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