Germany's AutoVision, a wholly-owned unit of Volkswagen, officially inaugurated its new €5 million factory in Győr, northwest Hungary on Friday.
The plant is adjacent to car maker Audi's plant, which AutoVision has been supplying with axles and drives for TT sport cars since December 2005. The plant's proximity to Audi's facility will reduce production costs by 15%, AutoVision CEO Dirk Coers said. The plant employs 35 people. In addition to Hungary, Auto Vision has foreign units in France, Portugal, Belgium and Spain.
Head of department at the Ministry of Economy and Transport Jószef Vaspár noted at the ceremony that there are 120 foreign auto industry companies in Hungary, employing 30,000 people combined.