Magnus Aircraft’s Chinese subsidiary, Jiangsu Magnus Aircraft Manufacturing Company will set up a new manufacturing base in Wuxi, China with an investment of close to EUR 90 million.

MET Group is the first to install Tesla’s energy storage unit, Megapack in Százhalombatta, Hungary on site of the company’s Dunamenti Power Plant.

An investment of HUF 18 billion (EUR 45 million) is set to boost the growth of OBO Bettermann Hungary Kft.

Chinese-owned Halms Hungary Kft. is investing more than EUR 40 million to set up a new plant to manufacture components for electric cars in Debrecen.

Schneider Electric is building a smart factory in Dunavecse with an investment of HUF 16 billion (EUR 40 million). The factory is expected to start production in 2024.

The Monetary Policy Council of the National Bank of Hungary (MNB) increased the interest rate by 100 basis points to 11.75%.

The South Korean brand KIA continues to lead the electric vehicle market in Hungary this year, with a 12.3% share of the market.

The Paks 2 nuclear power plant has now received planning permission from the Hungarian Atomic Energy Authority.

Balluff Group – a German family-owned company – has opened a new development office in Budapest after Veszprém and Csetény.

Railway company MÁV-Start has launched market research for the procurement of hydrogen-powered multiple units.