Flex laid the foundation stone for a new components plant for the automotive industry in Zalaegerszeg. The investment volume amounts to HUF 36 billion (EUR 91 million).
The development will create almost 210 new jobs, including 20 in R&D. For the factory hall being built on an area of 1 hectare, the government has granted subsidies of around 20%. The new plant will produce high-voltage converters for electric and hybrid cars from summer 2025.
The multinational company, which was founded 55 years ago, already employs around 140,000 people in 30 countries. Flex is one of the ten largest companies in the world and established itself in Hungary 30 years ago. With 4,000 employees, Flex is the largest employer in Zala County, but is also represented at seven other locations in Hungary and employs a total of 10,000 people. Its annual turnover in Hungary is EUR 1.83 billion.
After the contract manufacturing of telephones and other electronic devices, the company turned to automotive electronics. The company is now recognized as a leading design and manufacturing company for major global brands. Within eight years, USD 150 million has been invested in Zalaegerszeg and the plant is now the European center for Flex automotive production. This is in addition to the current investment of EUR 90 million, of which EUR 65 million is being invested in technological development and EUR 25 million in the construction of a production facility.