ThyssenKrupp will invest €50 million ($57 million) in an automotive components plant in Hungary, the manufacturing and engineering conglomerate’s seventh facility in the country.
Construction of the plant, which will manufacture valvetrain and electric-motor components, will begin in September, with production planned for late 2020. The plant in the city of Pécs eventually will create 200 new jobs.
ThyssenKrupp’s automotive division CEO, Karsten Kroos, says: “CO2 avoidance in fleet consumption remains one of the key challenges for our customers. Our powertrain technology offers them solutions precisely for this – both for highly efficient (internal-combustion) engines and for hybrid or all-electric powertrains.
“With our new investment in Hungary we are expanding not only our production network in Europe but also our product portfolio and (are) manufacturing electric motor components outside Germany for the first time.”
ThyssenKrupp says it has received orders from customers in recent months to develop and supply assembled rotor shafts for major EV platforms. The company already manufactures these components in Ilsenburg, Germany.
Over the past three years the company has invested about €150 million ($170 million) in setting up and expanding new components plants in Hungary.
In addition to a software development center in Budapest, the company operates production sites for steering systems, powertrain components, springs and stabilizers in Jászfényszaru and Debrecen. It also has an axle assembly plant and a steel service center for automotive customers in Györ.
ThyssenKrupp has about 2,000 employees in Hungary.