Hungarian automotive industry: week 38
While last week, Europe was closely watching the outcome of the referencum in Scotland, the forint managed to gain some strength, favourable economic and employment figures were posted and the success story of Hungary´s automotive industry continued. Hungary´s government signed a strategic partnership agreement with Japanese Takata and the new Audi TT is now in mass production.
Manufacturers
We were among the firsts to drive the new Audi TT and its beefed-up variant, the Audi TTS.
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| We tested the new Audi TT |
The new Audi TT from Győr represents the tradition of the German car manufacturer and also shows the way to an innovative future.
Last week it was announced that the new Mercedes-Benz B-Class would make its debut at the Paris Motor Show.
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| New B-Class to debut at Paris Motor Show |
Suppliers
India-based Apollo Tyres will carry out its first greenfield investment project in Hungary. With a HUF 146 billion investment, Apollo Tyres will build a new tyre plant in Gyöngyöshalász, Hungary, creating 975 new jobs in the region.
Bosch is planning to increase its stake in ZF Lenksysteme to 100 percent. The agreement between Robert Bosch GmbH and ZF Friedrichshafen AG on the aquisition was signed on September 15.
ThyssenKrupp's Budapest unit, employer of 350 Hungarian engineers, is developing steering systems for SGMW, the Chinese joint venture of BMW, Daimler and General Motors.
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| ThyssenKrupp: manufacturer of steering systems for premium car makers |
Last week, Salgótarján-based automotive glass manufacturer Salgglas Zrt. reported that it had developed a new technology to increase its production capacity with the manufacture of deep-curved and freeformed automotive glass products.
Szatyina Kft., manufacturer of purpose-made and high-stregth bolts and connectors, has purchased a 8,000-square-metre plot at Esztergom Industrial Park, where the company will build a new production hall.
Last week, the Hungarian government signed a strategic partnership agreement with Japanese automotive safety systems manufacturer Takata.
Education
The campus of Győr-based Széchenyi István University has been expanded with a laboratory, equipped with modern measuring tools. The new research centre at the Faculty of Vehicle Development was opened by Rector Péter Földesi and Thomas Faustmann, the CEO of Audi Hungaria. Széchenyi István University also awarded Mr. Faustmann with an honorary doctor title.
Last week, the first training laboratory for a primary school equipped with 3D technology was handed in Hungary, supported by Epcos Elektronikai Alkatrész Kft. The facility was built within the scope of the School Works (Suli Művek) Programme for Paragvári Utcai Primary School in Szombathely.
TechTogether
Three teams from the city of Győr will attend TechTogether. One of the teams is SZEnergy Team, currently engaged in the development of alternative energy sources.
TechTogether will also welcome one of the world's most efficient vehicles: Kecskemét College's Megaméter Team was founded four years ago in order to participate in Shell Eco-marathon. The team's aim was to run 1,000 kilometres with one single litre of petrol.
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| Megaméter: one of the world's most efficient vehicles |
Kecskemét College's GAMFKart was founded in the autumn of 2013. Their first competition was Go Kart-Go Bosch! in March this year, where the team won the Fastest Team award and finished third in the category of Best Technological Solutions.
TechTogether, to be held from November 5, will welcome Hungarian university teams who have already demonstrated their know-how in various automotive competitions.
Although Győr-based SZE Arrabona Racing Team is one of the youngest Formula Student teams, they already have great accomplishments. After being the best-performing Hungarian team in Formula Student Hungary in August, the SZE ART now finished first in the Russian leg of Formula Student, an outstanding achievement for such a young racing team.
Loan scheme
On Wednesday, Eximbank and the European Investment Bank (EIB) signed an agreement on a EUR 200 million credit facility. According to the credit contract, EIB will provide preferential resources for Eximbank to provide competitive financing for local SMEs while also including local credit banks.
Emplyoment
Analysts say earnings and employment trends are favourable in Hungary and are also expecting increasing consumption. The Ministry for National Economy announced that the excellent macroeconomic results are projecting further increases in real wages in Hungary.
The Central Statistical Office reported that between January and July 2014, average earnings increased by 3.0% at corporations employing at least 5 persons, budgetary and designated non-profit institutions compared to the same period of the previous year.
Forint
Last week, the forint managed to strengthen against the most important foreign currencies on the interbank foreign exchange market. On Friday afternoon, the forint was at 310.33 against the euro. The last time Hungary's currency managed to rise to this level was at the end of July. On Monday last week, the forint opened the week at 314.90 against the euro.
