ZF to Invest HUF 24 bln in EV Components Production in Hungary
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German automotive industry supplier ZF will invest HUF 24 billion at its bases in Kecskemét and Debrecen, Minister of Foreign Affairs and Trade Péter Szijjártó said on Friday, according to a report by state news wire MTI.
ZF Chassis Modules Hungary will make shock absorbers as well as front and rear axles for electric vehicles that will be produced at the BMW plant in Debrecen and the Mercedes factory in Kecskemét from 2025, Szijjártó said.
The state is providing HUF 2.4 bln in support for the investment that will create 313, jobs, he added.
ZF's headcount at its bases in the two cities is close to 2,000.
Hungary is "at the forefront" in the switch to electromobility, Szijjártó said.
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