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.
Alfod es Eszak; Eszak-Alfold; Jasz-Nagykun-Szolnok
Location of affected unit(s)
Jászfényszaru
Sector
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.32 - Manufacture Of Other Parts And Accessories For Motor Vehicles
450 jobs Number of planned job creations
Announcement Date
17 November 2023
Employment effect (start)
17 November 2023
Foreseen end date
Description
Evorin Precision, the Hungarian subsidiary of the Chinese transmission gear manufacturer, will establish a production plant in Jászfényszaru. 450 new jobs will be created. The plant will produce gears and shafts for electric car manufacturers, including Tesla, Volvo and the ZF Group. Initially, production will start in a rented hall in the first quarter of 2024, but at the same time, the company has already begun building its own production facility. The investment cost is €104.4 million. The Hungarian government provides a subsidy of €18.7 million, citing the high number of jobs the investment creates.
Sources
17 November 2023: Hungarian Investment Promotion Agency (hipa.hu)
Eurofound (2023), Evoring Precision, Business expansion in Hungary, factsheet number 200577, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200577.
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