According to a ministry statement, Péter Szijjártó said production is slated to start in 2025 at the plant which is creating 200 jobs, and the government is supporting the project with a 6.2 billion forint grant, Szijjártó said.

Hungary’s economy is expected to hit new records this year, with investment volume doubling to 13 billion euros and exports growing by 6-8% to 150 billion euros, he said.

Car manufacturing, which makes up 30% of Hungary’s industrial output, is key to that performance, he added. Since vehicles are the source of some 20% of all emissions, realistic climate protection goals are also impossible without curbing them, he said.

Hungary’s automotive exports have grown 3.5-fold in the past decade, last year surpassing 12,000 billion forints, he said.

This year, the sector’s performance grew by 18% in the first 11 months, he said.