Published: December 20 2023
Hungary continues to attract investment in the automotive industry, with German-owned Schaeffler Savaria Kft. announcing a €13.5 million research and development project in Szombathely. The project will focus on hybrid and fully electric vehicle components.
Hungary's success in attracting automotive research projects
Hungary has positioned itself as a European champion in the competition for manufacturing capacity in the automotive industry. This success makes it an attractive location for research and development projects in the sector. The country's investments in production capacity, infrastructure development, and higher education have laid a strong foundation for future developments in the automotive industry.
The significance of the Schaeffler project
Schaeffler Savaria Kft. will implement a €13.5 million research and development project in Szombathely. The project will establish one of the Schaeffler Group's leading research and development units for electric motors. This investment not only benefits the company and the local economy but also contributes to the success of higher education restructuring in Hungary.
Hungary's position in electric battery production
Hungary is set to become the world's second-largest producer of electric batteries by 2025. With production bases for all three major German premium car brands, Hungary is establishing itself as a key player in the electric vehicle industry. This further strengthens the country's position as an attractive location for automotive research and development projects.
Future opportunities in the automotive industry
Having established a strong manufacturing capacity and infrastructure, Hungary is well-positioned to compete for investment in the second phase of the automotive industry's developments. The country's success in attracting investments and its collaboration with Hungarian universities highlight its potential for future growth and innovation in the automotive sector.
Questions & Answers
What is the automotive research project that Schaeffler is implementing in Hungary? Schaeffler is implementing a HUF 5.2 billion (EUR 13.5 million) research and development project in the field of hybrid and fully electric vehicle components at its plant in Szombathely, Hungary.
Where is the Schaeffler plant located where the research and development project will take place? The Schaeffler plant is located in Szombathely, which is in western Hungary.
What is the significance of Hungary in attracting research and development projects in the automotive sector? Hungary has successfully become a European champion in the competition for manufacturing capacity in the automotive sector. This success gives Hungary a good chance of attracting research and development projects in the automotive sector.
What is the foreign export share of the Hungarian Schaeffler plant? The Hungarian Schaeffler plant has an export share of 93 percent.
What has been the success of the Hungarian Schaeffler plant in terms of cooperation with universities? The Hungarian Schaeffler plant has excellent cooperation with several Hungarian universities, which is a testimony to the success of the restructuring of higher education in Hungary.
