Daimler is investing 141 million euros in Hungary to make an electric model

Daimler AG will start production of the EQB compact electric SUV in Hungary in Q4 2021, after an investment of 50 billion forints (141 million euros), MTI and Reuters reports.

The Hungarian government is backing investment in the Kecskemet plant in central Hungary, which ”will cement the future of more than 4,400 jobs” with a grant of 15 billion forints, said Hungarian Foreign Minister, Peter Szijjarto.

The EQB SUV will be the first all-electric model made in Hungary, whose economy is dependent on the car industry, with German luxury brands Mercedes, BMW and Audi building or expanding factories in the country.

This year, BMW postponed the construction of its plant near Debrecen by several months, due to the effects of the coronavirus pandemic (Covid-19). BMV also plans to produce fully electric vehicles in Hungary.

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