Thyssenkrupp Establishes New Auto Parts Facility in Hungary

Posted By: Hamid Moarefon: Thursday, March 31, 2016In: Parts

Thyssenkrupp has recently announced its investment of $110 million (€100 million) to build a new engine and steering components facility in Hungary. The German company said that the move was required to help it fulfill huge orders it has won from global automakers in the past months.

Thyssenkrupp already has a software development facility for steering technology in Budapest and an assembly factory for Audi in Gyor. In December, it has won orders for steering systems from automakers worth approximately 4.5 billion euros.

The new facility will be built in Jaszfenyszaru, 70 kilometers (44 miles) east of Budapest, and will employ 500 people. It is set to be Thyssenkrupp’s first-ever factory in Europe to produce two different technologies in a single plant.

Construction is slated to begin this spring, with production of cylinder head covers with integrated camshafts as well as electronic steering systems starting in 2018.

Hamid Moaref

Hamid Moaref has always been fascinated by cars and the automotive industry. His family has a longstanding association with the industry and has been in the tire business for the past 35 years. Raised in Dubai, Hamid attended Capilano University in Vancouver where he graduated with a BBA in marketing before attending an intensive course in magazine publishing in 2005. He has been the publisher and chief editor of Tires & Parts magazine for the past ten years.