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Mercedes-Benz Hungary output jumps 20%

The Hungarian subsidiary of German car manufacturer Daimler saw output at its Kecskemét-based plant rise by 20% last year, compared to the preceding year, to over 180,000 vehicles, Mercedes-Benz Manufacturing Hungary chief Christian Wolff said today, according to reports.

Mercedes-Benz is planning to invest more than €580 million in technological upgrades and capacity expansions in the factory by 2018, Wolff added, according to Hungarian news agency MTI. 

The more than €65 million in profit generated by the unit last year will be reinvested in the plant, CFO Ekkehard Philipp said, according to MTI.

The automotive sector is one of the best-performing industries in Hungary, and experts consider it to be the driver of the Hungarian economy.