Continental invests HUF 4.2 billion in capacity expansion
Car parts supplier Continental Automotive Hungary will invest 4.2 billion forints (EUR 12.1m) to expand capacity at its R+D centres in Budapest and Veszprem, in western Hungary, Peter Szijjarto, the minister of foreign affairs and trade, said on Monday.
The government is supporting the investment, which will preserve hundreds of jobs and create 70 new, high value-added ones, with a 1 billion forint grant, Szijjarto said.
Continental’s investment concerns artificial intelligence and software development, including that of sensor systems, the minister said.
The investment will be of key importance in a “revolutionary era” of the auto industry that will see increased reliance on AI and software development, he said.