Significant Chinese Investment Announced in Miskolc, Hungary
The Hungarian government declares an automotive investment project by Halms as a matter of national economic importance.
The Hungarian government has released a draft decree designating a major automotive investment project in Miskolc as a matter of national economic significance.
Foreign Affairs and Trade Minister Péter Szijjártó announced earlier this month that the Chinese automotive parts manufacturer Halms will establish a factory in Miskolc with an investment of 80 billion forints.
The project, which will be executed in three phases, is expected to create over 1,000 new jobs in the region.
Szijjártó stated that the company would significantly enhance Hungary's economic performance and technological standards, further strengthening Hungarian suppliers.
Despite concerns voiced by National Economy Minister Márton Nagy about potential declines in the machinery and automotive industries due to EU policies, Szijjártó emphasized that ongoing large-scale automotive investments would position Hungary favorably within the global automotive sector.
He predicted that Hungary would soon be capable of producing one million vehicles and one million engines annually, while also achieving the second largest battery manufacturing capacity in the world.
The minister observed a global shift towards bloc politics, which he described as contrary to Hungary's interests, indicating that the government is aware of the potential damages caused by politically motivated interventions in the economy.
He characterized Hungary's current partnership with China as crucial, noting that the country has become one of China's most recognized economic partners in Europe despite American warnings.
Szijjártó claimed that Chinese companies regard Hungary as a key and attractive investment destination.
From 2020 to 2023, the highest number of investments came from China.
The Hungarian government has supported 64 major Chinese investments over 15 years, collectively valued at 5.5 trillion forints, contributing to the creation of several tens of thousands of new jobs in Hungary.
The investment in Miskolc will be located in the Southern Science and Technology Park of Miskolc, on an industrial area of NIPÜF Zrt., covering more than 100,000 square meters.
Halms constructed an automotive processing plant in Debrecen in 2023, primarily manufacturing engine housings and parts from aluminum alloys for global brands such as Volvo and Tesla.
The parent company, Huashuo Group, has opted to centralize its manufacturing operations in Hungary, establishing its European headquarters and production base in Miskolc.
The facility will manufacture medium and large aluminum high-pressure castings and machined parts for the automotive sector.
Matthew Shen, managing director of Halms Hungary Kft.
and Huashuo Technology, indicated that the factory could produce between 1 to 2 million automotive components annually, mainly for propulsion systems, transmission, and structural systems.
The production will utilize only recycled aluminum, with a strong emphasis on employing local labor and developing a supply chain with local companies.
Shen assured that the factory would operate in accordance with the highest environmental and industrial safety standards, utilizing the most advanced available technologies.
Foreign Affairs and Trade Minister Péter Szijjártó announced earlier this month that the Chinese automotive parts manufacturer Halms will establish a factory in Miskolc with an investment of 80 billion forints.
The project, which will be executed in three phases, is expected to create over 1,000 new jobs in the region.
Szijjártó stated that the company would significantly enhance Hungary's economic performance and technological standards, further strengthening Hungarian suppliers.
Despite concerns voiced by National Economy Minister Márton Nagy about potential declines in the machinery and automotive industries due to EU policies, Szijjártó emphasized that ongoing large-scale automotive investments would position Hungary favorably within the global automotive sector.
He predicted that Hungary would soon be capable of producing one million vehicles and one million engines annually, while also achieving the second largest battery manufacturing capacity in the world.
The minister observed a global shift towards bloc politics, which he described as contrary to Hungary's interests, indicating that the government is aware of the potential damages caused by politically motivated interventions in the economy.
He characterized Hungary's current partnership with China as crucial, noting that the country has become one of China's most recognized economic partners in Europe despite American warnings.
Szijjártó claimed that Chinese companies regard Hungary as a key and attractive investment destination.
From 2020 to 2023, the highest number of investments came from China.
The Hungarian government has supported 64 major Chinese investments over 15 years, collectively valued at 5.5 trillion forints, contributing to the creation of several tens of thousands of new jobs in Hungary.
The investment in Miskolc will be located in the Southern Science and Technology Park of Miskolc, on an industrial area of NIPÜF Zrt., covering more than 100,000 square meters.
Halms constructed an automotive processing plant in Debrecen in 2023, primarily manufacturing engine housings and parts from aluminum alloys for global brands such as Volvo and Tesla.
The parent company, Huashuo Group, has opted to centralize its manufacturing operations in Hungary, establishing its European headquarters and production base in Miskolc.
The facility will manufacture medium and large aluminum high-pressure castings and machined parts for the automotive sector.
Matthew Shen, managing director of Halms Hungary Kft.
and Huashuo Technology, indicated that the factory could produce between 1 to 2 million automotive components annually, mainly for propulsion systems, transmission, and structural systems.
The production will utilize only recycled aluminum, with a strong emphasis on employing local labor and developing a supply chain with local companies.
Shen assured that the factory would operate in accordance with the highest environmental and industrial safety standards, utilizing the most advanced available technologies.
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