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BOSCH TO INVEST HUF 14.1 BN AT HUNGARY BASE

 

German engineering giant Robert Bosch will invest 14.1 billion forints (EUR 43.8m) at its automotive unit in the northeast Hungarian city of Miskolc, company executives told a press conference. Hungary’s government is supporting the investment with a 2.65 billion forint grant, Foreign Minister Péter Szijjártó said at the same event. He noted the “outstanding” performance of the Hungarian economy in an “extraordinary economic environment”. Companies announced 98 large investments at a record value of 1,380 billion forints, bolstered by a total of 135 billion forints government grants, he said. Robert Bosch Energy and Body Systems makes vehicle parts, relays and electric drives. Among the parts it makes are next-generation products such as brake servomotors and ESP systems used in hybrid and electric cars. The current investment will add production lines for next-generation products as well as testing systems by 2021.