“Global corporations that are performing at the highest technological standards also have confidence in Hungary, the investment environment and the Hungarian people”, Minister of Foreign Affairs and Trade Péter Szijjártó declared at the official inauguration of the Continental Test track in Veszprém on Thursday.
“The largest vehicle dynamics test tack in Eastern Europe has been constructed in Veszprém, and the 9.7-billion-forint (EUR 26.6 million) investment is creating 130 new workplaces, towards which the government has provided 1.46 billion forints (EUR 4 million) in funding”, Mr. Szijjártó highlighted. “The investment is improving the company’s international competitiveness, Hungary’s position as a focus county, and is reinforcing the role of the Veszprém development centre within the global operations of Continental”, he added.
The Minister explained that the development project is also important in view of the fact that following the coronavirus epidemic a “fierce and high-stake” global competition will begin within the global economy. “This is why it is a key issue for the government for Hungary to maintain its operability even during the current, difficult circumstances”, he said. “The current situation represents an excellent opportunity to accelerate the dimensional transition of the Hungarian economy and realise it as rapidly as possible. The Hungarian economy, which previously focused almost exclusively on production, is increasingly shifting towards knowledge-driven business activities that are based on research & development”, the Minister stated.
“The automotive industry has always been the flagship industry of the Hungarian economy, and its production value increased to a record 9500 billion forints (EUR 26 billion) last year, achieving a year-on-year increase of 12 percent”, Mr. Szijjártó emphasised. “This means that 30 percent of Hungarian industrial output now originates from this sector”, he added.
“Hungary’s international competitiveness has not been reduced by the epidemic”, the Minister of Foreign Affairs and Trade declared. “During the first seven months of this year, the Hungarian automotive industry operated with an export ratio of 90 percent”, he added.
Mr. Szijjártó told reporters that German enterprises have always played an important role in the performance of the Hungarian economy, and 8000 Hungarian families have Continental to thank for their livelihoods. “One quarter of the foreign investors arriving in Hungary are German, the six thousand German enterprises operating in Hungary provide jobs for three hundred thousand Hungarians, and the government is currently in negotiation with relation to possible investments on the part of 24 German enterprises”, he pointed out.
Managing Director of Veszprém-based Continental Automotive Hungary Ltd. Tamás Pápai said almost half of the 2050 employees at the Veszprém plant work in development or engineering, and will now have the opportunity to test the systems and products manufactured in Veszprém in a real environment. Head of Continental’s vehicle dynamics division Matthias Matic also welcomed the development project in a video message, highlighting: “The new track will provide better opportunities than before for the testing of technological developments”.
Head of Continental Automotive Hungary Limited’s Development Centre in Veszprém Zoltán Pék explained that the new, 27-hectare test track is made up of five modules. A 210-metre wide dynamic surface has been established on the track; a 150-metre sprinkled ceramic surface that is more slippery than ice. The track also has an almost 500-metre long acceleration lane with an inclination of 10 percent, six hills with various gradients, and an 825-metre tarmac track that can be sprinkled with water, where a maximum speed of 150 km/hour can be achieved.
Continental has been present in Hungary for 30 years, and employs some 8000 people at ten locations, 7 factories and 3 offices. Over the past ten years, Continental has invested over 500 million euros in Hungary.
(Ministry of Foreign Affairs and Trade / MTI)
