Ikarus hopes to benefit from Trump’s job creation policies


wikimedia commons

Hungary-based bus manufacturer Ikarus is eyeing an entry to the U.S. market, which owner Gábor Széles believes could speed up after President-elect Donald Trump is inaugurated, according to an interview Széles gave Hungarian daily Magyar Hírlap last Friday.

“The program of President-elect Donald Trump is about creating new jobs in the southern states. Therefore, I expect that negotiations [on starting production in the U.S.] could speed up after January, when the new president is inaugurated,” Széles told pro-government daily newspaper Magyar Hírlap when saying he would focus on operations at Ikarus, after selling Echo TV

“We are prepared both in technology and capital demand for such a step, and we are planning to manufacture an annual 5,000 buses in South Carolina and Florida,” the owner said about plans.

Széles, who has holdings in Magyar Hírlap that he plans to keep and also the Videoton group, said he is aiming to raise production of Ikarus to an annual 3,000 in Hungary, of which approximately 500 would supply the Hungarian market, in line with the government’s national bus production strategy projecting domestic bus production of 1,000 a year.

Széles recalled that Ikarus is negotiating with numerous foreign partners on the possibility of setting up joint ventures to produce buses at the firm’s Hungarian base in Székesfehérvár. Talks are at an advanced stage to set up bus-making joint ventures in Kazakhstan, Iran, Nigeria, the U.S. and Cuba, the businessman said, according to Hungarian news agency MTI.


IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership


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.