China's Chervon Auto to build car parts plant in HungaryChristian Fernsby ▼ | October 20, 2020
China's Nanjing Chervon Auto Precision Technology Co., Ltd will build a car parts plant in Miskolc, northeast Hungary, the country's Minister of Foreign Affairs and Trade Peter Szijjarto said on Monday.
Car parts Chervon Auto
Topics: China Hungary
The 26,000 square meter plant will produce two million parts a year for combustion engine and electric vehicles, he said.
The minister stressed that the investment will further strengthen cooperation between Hungary and China, and it also illustrates that Hungary remains an extremely attractive investment location.
"Last year, 60 percent of the investment influx to Hungary came from the east, and 40 percent of the jobs created were also tied to eastern investors," Szijjarto underlined.
"In the first seven months of this year, Hungary's trade turnover with China increased by 19 percent and its exports increased by 10 percent," according to Szijarto. ■