The plant, the first phase of a 52 billion forint (EUR 133.8m) investment, will create 200 jobs, Péter Szijjártó, the minister of foreign affairs and trade, said at the ceremony.

The next phase will wind up by the end of 2026, creating 1,500 jobs, he added.

GKN Automotive Hungary’s base will supply BMW, Mercedes-Benz, Suzuki and Volkswagen.

The state is providing support for the investment, but the scale won’t be announced until after it is cleared by the European Commission, Szijjártó said.