The EUR 48 million investment of the manufacturing and logistics hub is to be realised in three phases on 228,000 square metres. Production is expected to be started in the second half of 2019 due to the huge European demand.

Following the announcement in Budapest, the foundation stone of the new unit has been laid in Gyöngyös It is planned to start with a production capacity of 300,000 bicycles but the target is to achieve 1 million production annually, creating 591 new jobs.

The Hungarian plant is going to focus on core European bicycle and E-bike models.