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German automotive supplier ZF to invest HUF 24 bn in Hungary EV components production

German automotive industry supplier ZF will invest 24 billion forints (EUR 63m) at its bases in Kecskemet, in central Hungary, and Debrecen, in the country's east, Peter Szijjarto, the minister of foreign affairs and trade, said on Friday.

ZF Chassis Modules Hungary will make shock absorbers as well as front and rear axles for electric vehicles to be manufactured from 2025 at the BMW plant in Debrecen and the Mercedes factory in Kecskemet, Szijjarto said.

The state is providing 2.4 billion forints in support for the investment that will create 313 jobs, he said, adding that Hungary is “at the forefront” in the switch to electromobility.

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