The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.31 - Manufacture Of Electrical And Electronic Equipment For Motor Vehicles
150 jobs Number of planned job creations
Announcement Date
26 October 2023
Employment effect (start)
1 January 2024
Foreseen end date
31 December 2024
Description
Continental Autonomous Mobility, one of the Hungarian subsidiaries of German automotive supplier conglomerate Continental, initiates an AI-oriented R&D investment project that entails the development of Level 4 self-driving software solutions and driver assistance systems. The project will create 150 jobs.
As a part of the same R&D push, another Continental subsidiary (Continental Automotive Hungary) will initiate two projects in the coming year.
The Continental group already operates several production and development sites in Hungary, employing about 8000 workers, through various local subsidiaries. The company established an Artificial Intelligence Development Centre in Budapest in 2018.
Sources
26 October 2023: Hungarian Investment Promotion Agency (hipa.hu)
Citation
Eurofound (2023), Continental Autonomous Mobility Hungary, Business expansion in Hungary, factsheet number 200475, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200475.
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