Thyssenkrupp’s E-motor Component Plant Extended

German-owned Thyssenkrupp’s story in Hungary has reached another key milestone: the topping out ceremony of its capacity expansion marks the latest stage of the company’s journey on Hungarian soil. The EUR 58 million investment that enables Thyssenkrupp to produce rotating shafts for electronic vehicles (EV) will create 110 new jobs, the Hungarian Investment Promotion Agency reports.

Having been present in Hungary since 1999, Thyssenkrupp continues to reinvest around here, and is ranked among the top 100 largest employers and the top 50 exporters in the country by now. The company deals with R&D, manufacturing and assembly alike, and apart from its headquarters in Budapest it has sites in four different locations in the countryside.

Its site in Jászfényszaru, located 70 km east from Budapest, now undergoes a major capacity expansion. The current area of 22,000 square meters is set to go up by 8,000 square meters, thus allowing the manufacturing of 2 million units of rotating shaft per year. This is a new component in that factory, and as a result several premium OEMs’ demand can be served. Up till now, electric steering systems and components for e-motors and internal combustion engines have been produced there.

The production units, machinery and production lines will be installed upon the completion of the new hall one by one thru 2026.

The project, 20% of which is paid for Hungarian taxpayers through a government decision, promises to create up to 110 new workplaces.