Germany's Knorr-Bremse Group, the world’s leading manufacturer for braking systems for rail and commercial vehicles, has laid the foundation stone of a new manufacturing and development base in Kecskemét, east-central Hungary.

This week sees the end of production at the Miskin plant of the German automobile components manufacturer Bosch in South Wales as work is transferred to the company's plant Hungary where labor costs are lower.

German carmaker Audi will invest up to EUR 900 million to extend its production site in Hungary, creating 1,800 new jobs, Audi Chairman of the Board of Management Rupert Stadler and Hungarian Prime Minister Viktor Orbán announced at a press conference recently.