Mercedes invests HUF 50 billion to make electric cars in Hungary

The government is supporting the investment, which will “cement the future of more than 4,400 jobs”, with a 15 billion forint grant, Szijjarto told an online press conference at the plant.

The minister called the investment “a milestone” for the Kecskemet plant, as well as for the Hungarian economy and car industry.

“One of the world’s largest car makers with cutting-edge technologies has decided to bring such a significant high-tech investment to Hungary at a time when the global car industry is not exatly about new investments,” Szijjarto said. This new project has further strengthened Hungarian-German economic cooperation, he added.

Christian Wolff, CEO of Mercedes-Benz Manufacturing Hungary, said that the production of Mercedes’s EQB brand fully electric vehicles could start in Kecskemet from Q4 in 2021. The model will have its world premiere next spring, he added.

A new pressing plant, announced in March 2020, will start operation in 2022.

The plant in Kecskemet turned out about 190,000 compact vehicles last year.