Hungarian Investment Promotion Agency

This recent investment of thyssenkrupp, which is present in almost 80 countries, is a great tribute to Hungary and the domestic investment environment, reflecting that the corporation remains confident in the expertise of Hungarian people, too. Aims of the corporation correspond to the objectives of the Hungarian Government as their investments in Hungary have a high added value.

thyssenkrupp group has three subsidiaries and two branches in Hungary. Since 1999, they have been engaged in R&D activities in the Competence Centre in Budapest, too, developing electric steering systems which use electric assistance instead of the traditional hydraulic system which continuously consumes energy. As a result of such developments, highly qualified Hungarian engineers have become well-known and recognised in global automotive industry by now.

thyssenkrupp also contributed to the increase of the production volume of the automotive industry in 2017. It exceeded HUF 8,083 billion by year which is a 2.4% growth compared to 2016. Similarly, the revenue from the export of the automotive industry grew by 2.1%. Besides, it is an important data that a total of 175,765 persons were employed by the automotive industry in the fourth quarter of 2017.