2023-09-11 11:16:10
GKN
Written by Rainer Ackerman
The British GKN Group is building a greenfield factory in Felsőzsolca for 52 billion forints (135 million euros), where 1,500 jobs will be created in the medium term.
GKN is considered the world’s largest supplier of drive technology to the automotive industry. The plant was officially inaugurated on Friday in the presence of numerous GKN top managers and Foreign Trade Minister Péter Szijjártó. At the start of production, the British will create 200 jobs in the town upstream of Miskolc; the workforce size planned for the final expansion stage is expected to be reached at the end of 2026. The minister spoke of tough international competition to win this investment. GKN is a supplier to BMW, Mercedes, Suzuki and VW, all of which have a presence in Hungary.
Hungary wants to be one of the global winners in the new era of the automotive industry and to create an environment for investors that allows them to feel like winners too. As the “backbone” of the domestic industry and economy, the production volume of the automotive industry reached the dream mark of 10,000 billion forints in 2022. In the first half of the year, proportional output increased by 24% to 7,000 billion forints, so another great record is in sight for 2023.
Records are there to be broken, said Szijjártó optimistically and listed: Foreign investments reached an unprecedented volume of 6.5 billion euros in 2022 – this number could double in the current year! The export volume last year totaled 142 billion euros – in the first half of 2023, exporters added a tenth more. In addition, Hungary’s economy employed more people than ever before in 2022; In the first half of 2023, foreign investors alone contributed a further 11,000 jobs, so that this number can also be history at the end of the year.
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