Halms Hungary, the local unit of China’s Zhejiang Huashuo Technology (Huashuo), is building an automotive component manufacturing plant in Miskolc, northeastern Hungary.
According to Hungarian and Chinese media outlets, the investment is valued at around Ft80bn ($236.3m).
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As reported by Hungary Today, Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó announced at the site that the project is expected to create approximately 1,000 jobs.
The Miskolc facility will supply global automakers including BMW, Volvo, Tesla and Jaguar, producing aluminium castings, engine blocks and other components.
“This investment will undoubtedly strengthen Miskolc’s position in the new era of the electric vehicle industry. We are talking about one of the key pillars of the automotive industry zone in eastern Hungary, which has once again been reinforced,” the minister was quoted by the Hungarian publication as saying.
Based in China, Huashuo is an international supplier of e-mobility components, best known for producing drivetrain housings used in electric vehicles.
The company also designs and makes aluminium components and structural body parts for vehicle control applications.
Huashuo holds more than 150 patents and employs over 300 engineers in research and development, with operations spanning China, South Korea and Europe.
Its customers include top-tier automakers such as Volvo, Mercedes-Benz and Tesla.
The Miskolc plant will have capacity to produce roughly two million components annually, reported Chinese news agency Xinhua.
Chinese Ambassador to Hungary Gong Tao, as reported by Xinhua, said Huashuo’s investment supports the development of Hungary’s new energy vehicle ecosystem through industrial chain coordination, technology exchange and talent training.
Wang Hongbiao, chairman of Zhejiang Huashuo Technology, added that the company is encouraged by Hungary’s predictable investment climate, established industrial ecosystem and deep pool of skilled labour.
The Miskolc project is described as the company’s phase two development in Hungary. Huashuo’s earlier phase one plant in Debrecen entered operation in early 2023.
