Photo: Péter Szijjártó/Facebook
Eurasia
23/07/2024 19:55
Péter Szijjártó also addressed the significant changes in the global economy in recent years, noting that the electric transition of the automotive industry has fundamentally reversed previous trends. He stated that this shift was driven by political, technological, and environmental imperatives, and emphasized that road transport is responsible for a significant share of emissions.
He underlined that this transition has led to fierce global competition to determine where to invest in the new era. He emphasized that countries excelling in this area will have significant assurances for their future economic growth. "It is good news that our country has achieved outstanding results in the race for the largest investments in the electric car transition. Moreover, this is important not only for sustaining long-term economic growth but also for protecting jobs," he said.
He stated that the automotive industry has always played a crucial role in Hungary, and it is essential to replace the jobs that may be lost from the traditional automotive era.
The minister emphasized that the automotive industry in Hungary accounts for approximately 30 percent of the total manufacturing output, directly supports 150,000 jobs, and generated a production value of HUF 13,700 billion last year. He noted that, apart from Germany and China, Hungary is the only country where the three largest premium German car brands have factories. Additionally, five of the world's ten largest electric battery producers, including the world market leader, are also present in Hungary.
"This is a very unique combination that has made Hungary a meeting point for Eastern and Western economies, and Eastern and Western investment," he said. "This positioning ensures that we are among the world leaders in the automotive revolution. If you think about it, this is also remarkable because it has been a very long time since Hungary was at the forefront of technological innovation that will determine the functioning of the world economy in the long term," he concluded.
