China's Xinzhi creates 900 jobs with €120mn investment in Hungary
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8 Articles
Even though the EU has introduced protectionist measures against China in order to protect its own automotive industry through cheap e-car imports, the Middle Kingdom is apparently finding enough loopholes to still gain a foothold in Europe. This is being done with active support from Hungary, where a manufacturer of important basic components for electric motors will now build a plant. Specifically, this is the Xinzhi Group, which, according to…
Hungarian FM Szijjártó announces major Chinese investment - DailyNewsHungary
China’s automotive company Xinzhi is creating almost 900 jobs by investing HUF 50bn in a new plant it is building in Hatvan, east of the capital, Minister of Foreign Affairs and Trade Péter Szijjártó said on Monday. Szijjártó talks about strengthening Hungary’s position Szijjártó said this investment further strengthens Hungary’s position in the global market for transitioning to EVs. He said Xinzhi is a market leader in the production of one of…
According to the minister, we are at the forefront of the electric car market, and the Chinese company's factory will create nine hundred new jobs, he said.
Xinzhi Group would enter the elite league of automotive suppliers with an investment of tens of billions of forints to build its first European production base in Hatvan. Szijjártó...
Based on its financial data, Xinzhi Group is not considered a particularly large automotive supplier, but it announced its cooperation with Volkswagen in June this year.
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