Yet Another Chinese Investment to Create Hundreds of New Jobs [Video]

The HUF 50 billion (EUR 121 million) investment of Chinese automotive company Xinzhi in Hatvan (some 60 kilometers east from Budapest) will create almost 900 new jobs, further strengthening Hungary’s position in the global market of electric vehicle industry transformation, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Monday.

According to a statement sent to MTI, the minister announced that Xinzhi, a market leader in the production of one of the most important basic components for electric motors, has decided to build its next plant in Hungary. Péter Szijjártó then pointed out that

the Chinese company will also start serious research and development activities in Hungary in addition to production, and will therefore hire 30 highly qualified engineers.

“The electric car industry is still at an early stage of its development, so research and development really have a big role to play now, so Hungary has been able to attract not only a major …