Hungarian automotive industry: week 47 2020
Fotó: Schaeffler Savaria Kft. / Luxfoto
Schaeffler continue site expansion with new technologies, Volkswagen announce investment in neighbouring capital. Let’s recap what last week brought in Hungary’s automotive sector. Clicking on the highlighted items will open the full stories.
An aluminium casting machine using unique technology has been recently delivered to Schaeffler Savaria Kft.’s second production unit, currently still under construction, where the company will soon launch the serial manufacturing of components for electric motors.
Volkswagen will invest €1 billion in their Bratislava production unit, conducting preparations for the serial manufacturing of the new-generation Passat and Škoda Superb.
Continental reported on improving financial results in Q3 2020 from the same period in the year before. Despite the overall weak performance of the European market, the company saw an improvement both in operational results and profitability in the third quarter.
German steelworker and engineering group thyssenkrupp have announced further layoffs alongside the publication of their financial results from the previous fiscal year ending in September.
Hungary will be the first country from the CEE region to join the European battery alliance, by drafting a National Battery Strategy among other initiatives.
The Hungarian government will increase the 2020 budget of its investment programme targeting large businesses from HUF 40 billion to 800 billion, reacting to a perceivable improvement investment sentiment.
A fresh analysis published by JóAutók.hu revealed that less than 25 percent of all new cars sold this year were diesel powered, while the share of electric vehicles has reached 27 percent.
The European Automobile Manufacturers' Association published their October statistics, which shows marked year-on-year decrease in vehicle sales in the tenth month of the year.
A new European cooperation has been established for the retraining of more than 100,000 automotive employees a year. One of the programme’s partners is the Budapest University of Technology and Economics (BME).
