Automotive giant Bosch is investing an additional 30 million euros to upgrade its plant in Hatvan, eastern Hungary.
“The world is undergoing significant changes, state-of-the-art technologies and developments are rapidly gaining ground in new development projects, and the Hungarian economy, including the automotive industry, is also experiencing an era of dimensional transition,” said Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó.
“Bosch’s plant in Hatvan manufactures technological equipment and components that determine the future of motoring, and which are indispensable to automated driving”, he added.
The Hungarian government will provide 1.2 billion forints (around 3.8 million euros) in non-returnable funding for the project, which is expected to be completed by the end of 2020.
“These investments are bringing to Hungary modern technologies that previously belonged to the realm of science fiction,” the minister continued. “A major role in this was also played by the fact that we have created one of Europe’s most attractive investment destinations and centres in view of the fact that the corporation tax paid by enterprises in Hungary is the lowest in the European Union.”