The major investment by renowned automaker Suzuki illustrates Japan’s unwavering confidence in the Hungarian market. The project, christened ‘Suzuki Investment at Hungary’ by the media, entails a commitment of HUF 9.3 billion (EUR 24 million). With this investment, Suzuki has set sights on augmenting its production capacity. The confirmation comes directly from Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó.
This substantial investment forms a crucial part of an overarching strategy to amplify Suzuki’s production infrastructure at Esztergom, located within northern Hungary, whilst spearheading a transition towards carbon neutrality. This action embodies Suzuki’s significant commitment to eco-friendly practices throughout its business model.
“This forward-thinking development won’t just secure Hungary’s economic future but also pave the way for a substantial emissions reduction,” stated Minister Szijjártó. He stressed that the investment from Suzuki incorporates considerable advancements technology-wise, specifically focusing on digitalization and automation.
Suzuki’s bold investment will fund an enlargement of bumper, painting, and welding workshops. The acquisition of state-of-the-art machinery and the erection of a solar power plant further cement this comprehensive plan.
The Hungarian government shows its backing for this impressive endeavour, promising HUF 1.9 billion (EUR 4.98 million) in support, thus guaranteeing Suzuki’s aim of establishing a 3,000 strong workforce within Hungary.
“Each investment bears significant importance within today’s global economic context, and Suzuki’s investment within Hungary shines as a perfect example,” added Minister Szijjártó. He praised this decision as a giant leap towards positioning Hungary as a central figure within the European automotive industry during this novel era.
Suzuki’s plant at Esztergom, which claimed a market-leading position within Hungary last year, securing a 12.5% share, ranks as the company’s third-largest investment. Minister Szijjártó, embracing this development, stated that this move could potentially fortify the influence of Japanese companies within Hungary.
A major investment from an international powerhouse like Suzuki is boosting Hungary’s reputation in the global automotive industry. Moreover, Hungary can attract more investors through this measure. Market experts point out the possibility that new investors from Japan will start pumping funds into Hungary. Yes, this investment by Suzuki gives Hungary high value in every sense.
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