According to a statement by the Ministry of Foreign Affairs and Trade, the Minister said at the announcement of the greenfield investment in Budapest that the German company will produce battery cover plates for BMW.

In his speech, he stressed that this will be the company's first plant to produce components exclusively for electric cars. He added that the state-of-the-art factory will be based on renewable energy.

The project, worth around HUF 60 billion, will be supported by the state with HUF 5.6 billion.

Szijjártó recalled that the global economy has been turned upside down twice in recent years, but the rise of electric cars continues unabated. He pointed out that this was not just a business and economic necessity, but also the result of a political decision in which the European Union played a huge role.

The EU is one of the frontrunners in achieving the 2050 climate neutrality targets, and the electric car transition is "the result of a strong EU policy decision", as transport is a major source of pollution, and without a transformation, the sector's emissions cannot be reduced significantly in the long term, he said.