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HUF 2.9 billion subsidy scheme for automotive industry suppliers to be launched

The government will launch a 2.9 billion forint (EUR 7.7m) subsidy scheme to boost the share of local suppliers to big automotive and battery industry companies in Hungary, state secretary for industrial policy Gergely Fabian said on Wednesday.

The scheme will launch as a pilot programme in 2023 and the full scale of support will be made available from 2024, Fabian said.

The programme is the product of cooperation with the Hungarian Chamber of Commerce and Industry (MKIK), he added.

The subsidies will be available to businesses with headcounts over 250.

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