Japanese electronics giant TDK is investing HUF 26 billion (EUR 70 million) and creating 250 new jobs in Szombathely. The state is providing subsidies of HUF 6.6 billion (EUR 18 million) for the development.
The project serves to develop a new business area at the location where sensors for electric cars will be manufactured in the future on an area of 10,000 m2.
Japan ranks 7th among foreign investors. For Hungary Japan is the third largest export market in the Asian region. Exports increased by almost a fifth to USD 830 million in 2021. The local automotive industry reported production output of HUF 9,400 billion (EUR 25 billion) last year, two and a half times the value of 2010. Indonesia and several other European countries had applied for the new TDK investment.