ZF Chassis Modules to Invest HUF 10Bn in Debrecen

German-owned automotive supplier ZF Chassis Modules will invest HUF 10bn in Debrecen (E Hungary), creating 230 jobs, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday.

The company will make front and rear axles at the new plant exclusively for electric vehicles made at the BMW plant in Debrecen.

Output of Hungary's automotive industry more than quadrupled over the past decade, reaching HUF 13,000 billion last year, the minister noted.

The government supported over 100 investments worth HUF 600 billion by large companies in Debrecen in the past ten years, which generated investments worth HUF 4,600 billion, creating 23,000 jobs, he said.

The ZF Chassis Modules project in question is supported with HUF 1 billion by Hungarian taxpayers through a government grant.