Chinese Yanfeng looks to invest HUF 7.4 bln in Hungarian expansion
Chinaʼs Yanfeng Automotive Interiors (YAI) is planning to spend HUF 7.4 billion on the expansion of its Hungarian unit in Pápa, Minister of Foreign Affairs and Trad Péter Szijjártó said yesterday, according to state news agency MTI.
The government is granting the company HUF 1.85 bln for the investment, which will create 450 jobs, the minister added.
Yanfeng Automotive Interiors is one of the worldʼs largest automotive suppliers.
The Pápa unit makes interior parts for premium-category passengers cars.
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