thyssenkrupp further expands automotive business in eastern Europe

thyssenkrupp today made the investment decision to build a new auto components plant in Hungary

thyssenkrupp today made the investment decision to build a new auto components plant in Hungary. A new production facility for components is to be built in Pécs in the southwest of the country. The investment is worth around 50 million euros. The site will make highly efficient valve train parts and electric motor components. Construction is scheduled to begin in September, with the start of production planned for the end of 2020. The new plant will create around 200 new jobs in the coming years.

Dr. Karsten Kroos, CEO of thyssenkrupp’s automotive division: “CO2 avoidance in fleet consumption remains one of the key challenges for our customers. Our powertrain technology offers them solutions precisely for this – both for highly efficient IC engines and for hybrid or all-electric powertrains. With our new investment in Hungary we are expanding not only our production network in Europe but also our product portfolio and manufacturing electric motor components outside Germany for the first time.”

In recent months thyssenkrupp has received orders from customers to develop and supply assembled rotor shafts for major EV platforms. The company already manufactures these key electric motor components in Ilsenburg in Saxony-Anhalt and soon also in Hungary.

thyssenkrupp is one of the fastest-growing automotive suppliers in Hungary. Over the past three years the company has invested a total of around 150 million euros in setting up and expanding new components plants in the country. In addition to a software development center in Budapest, the company operates production sites for steering systems, powertrain components, springs and stabilizers in Jászfényszaru and Debrecen. It also has an axle assembly plant and a steel service center for automotive customers in Györ. Altogether thyssenkrupp employs around 2,000 people at six sites in the country.

thyssenkrupp business area Components Technology

thyssenkrupp produces high-tech components for the automotive and machinery sectors with over 34,000 employees worldwide. In the auto sector the product range includes assembled camshafts, cylinder head modules with integrated camshafts, crankshafts; steering and damping systems, springs and stabilizers as well as the assembly of axle modules. In the machinery sector thyssenkrupp supplies components for construction equipment, wind turbines and numerous general engineering applications. In fiscal year 2018/2019 the Components Technology business area achieved sales of around 7.9 billion euros.

SOURCE: thyssenkrupp

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