thyssenkrupp expands automotive business in eastern Europe

The company is investing about EUR 50 million in the new plant which will make valve train parts and electric motor components. Construction is scheduled to begin in September with production planned for the end of 2020. The new plant will create around 200 new jobs in the coming years. “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 IC 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 manufacturing electric motor components outside Germany for the first time,” says Dr. Karsten Kroos, CEO of thyssenkrupp’s automotive division in a press release. In recent months thyssenkrupp has received orders from customers to develop and supply assembled rotor shafts for major EV platforms. The company already manufactures these key electric motor components in Ilsenburg in Saxony-Anhalt and soon also in Hungary.