German Carmakers Plan Investment Record In Hungary
- 29 Sep 2010 2:00 AM
"German car makers are breaking new records. However these will not be speed or endurance records, but rather an all new investment record in Central and eastern Europe. The Ingolstadt-based automaker Audi AG (a member of the Volkswagen Group), plans to investment at least EUR 1-bil at its production and assembly unit in Gyor, North-western Hungary, sources said.
The Hungarian Prime Minister was expected to make the announcement on Sept 23, 2010. Germany’s Opel group (a member of the US-based General Motors group) also reportedly plans a further investment of at least EUR 500-mil at its assembly unit in Szentgotthard (Western Hungary).
Both investments are said to be topped by state subsidies as the two companies have pledged to help boost employment (directly and indirectly) at their units."
By Tamas S. Kiss, published on XpatLoop.com with the permission of BudapestReport.com
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