BUDAPEST, March 27 (Xinhua) -- Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto said on Friday that cooperation with China has helped Hungary emerge as a leader in the global automotive technology revolution.
Speaking at the opening ceremony of Chinese company Huashuo's Phase II plant in Miskolc, northeastern Hungary, Szijjarto said Hungary offers "the best conditions in Europe for cooperation between Eastern and Western companies." He added that Hungary has become the top destination for Chinese investment in Europe, attracting more than 30 percent of such investment last year.
Huashuo's investment of 80 billion forints (240 million U.S. dollars) is expected to create around 1,000 new jobs in Miskolc. The plant will produce approximately 2 million automotive components annually using exclusively recycled aluminum. "This investment will undoubtedly strengthen Miskolc's position in the new era of the electric automotive industry," Szijjarto said.
Focusing on key areas of the new energy vehicle (NEV) sector, Huashuo Technology has promoted coordinated development along the industrial chain and facilitated technology exchange and talent training, making positive contributions to Hungary's NEV industrial cluster and green transition, said Gong Tao, Chinese ambassador to Hungary.
Wang Hongbiao, chairman of the board of Zhejiang Huashuo Technology Co., Ltd., said Hungary's stable investment environment, strong industrial base and highly skilled workforce have given the company "full confidence in its long-term development here."
Huashuo's Phase I project in Debrecen, Hungary's second-largest city, went into operation in early 2023. Construction of the Miskolc Phase II plant has been completed, with trial operations expected to begin by the end of June this year.
