Suzuki to invest billions in Hungary
The Hungarian state is providing HUF 1.9 billion in support for Suzuki's new Esztergom investment.
Suzuki is making a further HUF 9.3 billion investment in Hungary with which the Japanese company expands its production capacity and takes a major step towards the carbon neutral transformation of the Esztergom plant – announced Minister of Foreign Affairs and Trade Péter Szijjártó in Tokyo on Wednesday.
The Minister said that an agreement had been reached with the automotive company on a new development that will help keeping up economic growth in Hungary in the future as well, while reducing emissions in an environmentally friendly way at the same time.
„Suzuki is making an investment at its Esztergom production base expanding the site’s capacity, making very significant technological improvements in the areas of digitalization and automation. In parallel, they are making another major step towards the carbon neutral operation of the plant” – he stressed. He also said that the HUF 9.3 billion investment will include the capacity expansion of the bumper, painting and welding plants, the procurement of high-tech machinery and the construction of a solar power plant.
„That's good news, because all investments need to be highly appreciated in the current global economic environment, and that is exactly what we do” – he said. Péter Szijjártó that the state will provide a HUF 1.9 billion support to the project, helping the company to reach a workforce of 3,000 employees in Hungary.
„Here and now we are taking another big step towards securing Hungary’s position as one of the strongholds of the European automotive industry in the new automotive era as well" – he said. Then he pointed out that Magyar Suzuki – traditionally the leader of the domestic market with 12. percent market share last year – has the third largest production site of the Suzuki Group in Esztergom. Finally, the Minister welcomed the fact that the newly announced investment will further strengthen the presence of Japanese companies in Hungary. He stressed that East Asian companies form the seventh largest investor community in Hungary, and without their continuous investments the Hungarian economy would not have been and would not be able to maintain its growth path.
