PEX Automotive Systems Ltd. expands capacity with an investment of EUR 15 million as a result of which, apart from the manufacturing of traditional products of the company such as brake wear signals and cables, e-mobility and intelligent automotive related production can also launch. Up to 35 new jobs will be created as part of the project.
PEX Automotive is part of one of the largest Chinese automotive supplier corporate groups, Baolong, which employed over 4,500 and had revenues close to HUF 150 billion in 2020. PEX Automotive develops and manufactures brake lining wear signals, distance measuring sensors and exhaust gas temperature sensors for automotive.
The greenfield investment aims to establish a production site of 7,500 sqm, office space of 2,100 sqm and storage area of 2,500 sqm. The new facility is scheduled to be up and running in early 2023.
“This investment is a consistent continuation of Baolong’s European Growth Strategy after the foundation of the Joint Venture BH SENS and the acquisition of PEX Automotive Systems Kft.,” according to Zuqiu (Charles) Zhang, CEO of Shanghai Baolong Automotive Corporation.
The company plans to make the Szigetszentmiklós site to the European hub of its automotive sensors division, the Hungarian Investment Promotion Agency reports.
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