© thyssenkrupp Electronics Production | March 06, 2018
thyssenkrupp invest further in Eastern Europe
thyssenkrupp announces that it has opened a further automotive components plant in Jászfényszaru, Hungary.
A new production site for chassis and powertrain components has been built in Jászfényszaru – about 70 kilometers east of Budapest – over the past months. The new plant will produce electric power steering systems and valve train systems for German and international OEMs. The company says that it has invested around EUR 100 million in the construction of the new plant complex. As production is ramped up the company expects that up to 500 new jobs will be created, a press release reads. “In recent years Hungary has developed into an important player for the European auto industry. Last year alone some 480,000 cars rolled off the country’s production lines. Our customers are investing in new plants, and we are also looking to continue our profitable growth in Hungary. Our focus is on high-tech products such as electric steering systems and components for highly efficient internal combustion engines and electric motors,” says Karsten Kroos, CEO of thyssenkrupp’s Components Technology business area. A further plant for springs and stabilisers is currently being built in Hungary and is scheduled to start production later this year; the company says that the expansion of production capacities in Hungary are necessary due to new customer orders. The company also has a software development centre in Budapest creating software products for electric power steering systems and new applications for steer-by-wire and autonomous driving solutions.
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