Govt awards Flex grant for HUF 8.9 billion investment

Peter Szijjarto, the minister of foreign affairs and trade, on Tuesday awarded the local unit of contract electronics maker Flex a 3.6 billion forint (EUR 10.0m) government grant to support 8.9 billion forints of investments at the company's bases in Zalaegerszeg and Sarvar, in western Hungary.

The investments will create 120 jobs, the foreign minister said in Zalaegerszeg.

Flextronics International Kft VP Agota Peter said the investments would involve capacity to produce cutting-edge products for the automotive industry, ones that collect and process data and support vehicles that are close to fully autonomous.

She added that 80 of the 120 new hires would be highly trained workers.

Serial production of the new products, which Flex developed at its design centre in Budapest, could start in 2023. One of the products regulates batteries, another is an electric turbocharger and a third controls lighting with sensors and cameras.

Flex EMEA VP Jean-Francois Zoeller noted that Flex employs around 9,000 people at bases in five cities in Hungary. Last year, its local business generated revenue of 2.7 billion euros, he added.

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