Economic development minister holds talks with local Mercedes executives

Nagy met with Mercedes-Benz Manufacturing Hungary CEO Christian Wolff, CFO Karsten Twele and PR director Sandor David, the statement said.

The sides discussed economic trends and the situation of the automotive industry, including issues of competitiveness.

Nagy said vehicle manufacturing was a pillar for Hungary’s economic performance, next to battery production. The new industry strategy currently being developed handles the sector as a priority area, he added.

Mercedes has been present in Hungary for nearly 15 years, producing some 135,000 vehicles annually. The company’s turnover exceeds 3 billion euros in Hungary and it employs nearly 5,000 people, the ministry said.

The sides were in agreement that economic cooperation must be further increased, an innovation and research must be encouraged, the ministry said.