Continental Announces HUF 18.8 bln R&D Investment
Image by KULLAPONG PARCHERAT / Shutterstock.com
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.
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.