Published: November 16 2023
Chinese company Wasion Holdings Ltd. is investing in Hungary's smart meter production by building a global research and development facility in Gödöllő, near Budapest. This investment will boost the economy and create job opportunities in the country.
The Investment and Production Facility
Wasion Holdings Ltd. is building a HUF 4 billion (EUR 10.6 million) plant in Gödöllő to produce smart electricity meters. With the support of a HUF 390 million government grant, the facility will create 300 jobs. The plant is expected to start production in 2025 and will produce one million smart meters annually.
Economic Impact
This investment will contribute to Hungary's goal of breaking export records, as Wasion exports its products to 50 countries. The project showcases the benefits of pursuing a foreign policy based on cooperation, and the Hungarian government sees opportunity in collaboration with China.
A Call for Cooperation
Minister of Foreign Affairs and Trade, Péter Szijjártó, urges the European Union to choose cooperation over hostility with China. This investment highlights the potential for positive outcomes when countries work together.
Questions & Answers
What is the name of the Chinese company investing in Hungary? The Chinese company investing in Hungary is called Wasion Holdings Ltd.
Where is Wasion Holdings Ltd. building its global research and development and smart meter production facility? Wasion Holdings Ltd. is building its facility in Gödöllő, on the outskirts of Budapest, Hungary.
How much is the investment for the smart meter production facility? The investment for the smart meter production facility is HUF 4 billion (EUR 10.6 million).
What support is the government providing for the investment? The government is providing a HUF 390 million grant to support the investment.
How many jobs will be created by the smart meter production facility? The smart meter production facility will create 300 jobs.
When will the smart meter production start? The production of smart electricity meters will start in 2025.
How many smart electricity meters will the plant produce per year? The plant will produce one million smart electricity meters per year.
Which countries does Wasion export its products to? Wasion exports its products to 50 countries.
What does the Hungarian government see in cooperation with China? The Hungarian government sees opportunity, rather than danger, in cooperation with China.
What is the Minister of Foreign Affairs and Trade urging the European Union to do? The Minister of Foreign Affairs and Trade is urging the European Union to choose cooperation over hostility with China.
