State secretary Péter Szijjártó said the agreement is in line with Hungary’s intentions to become a production center in Europe, and a center for R&D, as well. He added that Takata is planning to spend 4.5% of its revenue on R&D this year.
Takata chairman Stefan Stocker called the agreement “a milestone” and said it paved the way for further cooperation between the company and the country in the field of R&D.
Takata launched construction of a €68 mln airbag and car safety systems plant in Miskolc in the spring. The plant will employ 1,000 people.
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