Chervon Auto Establishes Factory in Hungary

Chervon Auto establishes its first plant outside China in Hungary. The value of the greenfield investment aimed at serving European partners more efficiently is more than EUR 50 million.

According to a report by the Hungarian Investment Promotion Agency, the new plant in Miskolc will have a capacity to produce up to 2 million vehicle parts per year and nearly 150 new jobs will be created.

Chervon Auto, a manufacturer of mainly automotive parts and a Tier 1 and Tier 2 supplier with a European market share, can greatly reduce transport costs as well as delivery time with the greenfield investment. The new 26,000 m2 hall will be used to manufacture automotive metal parts within a few years.

In addition to its proximity to existing customers, the investment will also take advantage of the opportunities offered by the rapidly growing market for electric and hybrid vehicles. The company's competitive advantage lies in its ability to provide quality solutions for both conventional and new technology vehicles.