GM Invests EUR 500 million in Stepping up Production in Hungary

General Motors has unveiled a new EUR 500 million investment in transforming its Hungarian site into a European engine-manufacturing center for Opel.

In a brand new facility (to be completed by November 2012), GM Szentgotthard will launch the production of three new engine models, and raise its capacity to half a million engines per year. The present project will double the value of investments that GM has made in Hungary over the past 20 years. Enhanced production capacities will increase staff numbers by 1,000 at GM Szentgotthard and create around 2,500–3,000 new jobs at GM’s Hungarian suppliers. The Hungarian government has granted the company investment support of EUR 26.65 million, a contribution expected to see a return to the national budget three years after GM launches production in the new facility.      

 

News Monitoring