New product launch at Continental Budapest
The leading global supplier has launched the production of a new electronics product at its Kőbánya (Budapest) plant with a HUF 1.4 billion investment.
"The latest development of Continental Automotive Hungary Kft.'s Budapest-based plant is a power steering control system for small and compact vehicles, which enables functions such as parking assistance, lane departure warning and speed and location-dependant assistance," said Tamás Szabó, factory director at Continental Automotive Hungary.
The new production line consists of 30 machines, 85 percent of which were purchased from Hungarian suppliers. The total costs of the investment amounted to HUF 1.4 billion, aided by a HUF 178 million EU support. The project has created 90 new jobs. The Kőbánya plant will manufacture 1 million control units every year.
Between 2009 and 2014, Continental Automotive Hungary invested nearly HUF 15 million in its Budapest and Veszprém plants within the scopes of seven tendering projects, said company CEO Róbert Keszte.
