Mercedes-Benz plans to invest € 595 million in Hungary

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Hungary, Kecskemét – On Friday, April 29, German luxury car manufacturer Mecedes-Benz announced its will to invest HUF 185 billion (€ 595 million) to improve its Hungarian plant in Kecskemét. “The Best or Nothing – Mercedes’s slogan goes; the company opted for the best when it chose Hungary and Kecskemét”, Péter Szijjártó, Hungary’s Minister of Foreign Affairs and External Economic Relations, said at the investment’s ground-breaking ceremony.

On Friday, Mecedes-Benz has announced to invest massively in its plant in central Hungary, at Kecskemét. € 250 million will be spent on a new bodywork unit, with a 99,000 square meters  floor area. The remaining € 330 million are planed to be spent on technological developments and preparations of new compact cars, although it is not yet public which model or models these will be.

Péter Szijjártó, the Hungarian Minister of Foreign Affairs and External Economic Relations, stressed that the government’s economic policy, aiming to make Hungary the center of high value-added activities in Europe, was right. He then added that, including this project, the German company’s investments in Hungary total over HUF 500 billion (€ 1.612 billion) in value.

This investment is the larger in Hungary since September 2014, when the Indian tyre manufacturer Appollo Tyres invested € 490 million and created 1,000 jobs. Mercedes-Benz produced more than half million cars in Hungary in the past four years.

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