Chinese company brings its European electric car manufacturing centre to Csepel Island

The Pex Automotive Systems Kft., part of Baolong, one of the largest Chinese automotive suppliers, has built a greenfield factory in Szigetszentmiklós. The greenfield investment, worth around HUF 5.1 billion, was supported by the state with HUF 1.5 billion.

The inauguration ceremony on 11 September revealed:

The company will establish the European base of its electromobility strategy in Hungary, where the new unit will also start manufacturing products related to the electric and intelligent vehicle industry.

Green solutions have also been favoured in the development, with solar panels covering half of the plant's electricity consumption.

A major race to decide where to build the factory

Foreign Minister of Foreign Affairs and Trade Péter Szijjártó said at the event that Hungary has become China's number one investment destination in Central Europe. "These investments, which are coming from China to Hungary year after year, contribute greatly to maintaining the growth rate of the Hungarian economy," he said.

The Minister said that the electric and intelligent car industry is the future backbone of the European economy, and those who can attract investment in these sectors will have a long-term guarantee of growth for their own economies.

Then he pointed out that the only other Baolong factories besides China were in the United States and Germany, but the investment was welcomed by many countries, so there was a lot of competition for it.