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Watch: Sangsin Hungary To Invest HUF 10.5 Billion To Expand E Hungary Base

• 8 Jan 2021 8:56 AM
• Hungary Matters

The Hungarian unit of Korea’s Sangsin is investing 10.5 billion forints (EUR 29.2m) to expand its base in Jászberény, in eastern Hungary, with a 3.15 billion government grant, Minister of Foreign Affairs and Trade Péter Szijjártó announced.

The investment will multiply output of the plant that manufactures battery components and create 150 jobs.

Electric vehicles will be a driving sector of the post-pandemic era, and the government has supported investment in the sector to secure its place in emerging industrial sectors, he said.

Sangsin’s expansion is the 30th similar investment in the past 5 years.

Hungary has become one of the largest battery manufacturers thanks to those investments, he said, adding that trade between the countries grew by 24% in 2020 despite the coronavirus pandemic.


MTI Photo: Noémi Bruzák

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Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

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