Monday, July 22, 2024
HomeTransportMercedes Benz to invest €1bn in Hungarian plant preparing for electric future

Mercedes Benz to invest €1bn in Hungarian plant preparing for electric future

German carmaker Mercedes Benz will invest more than 1 billion euros in its Kecskemét plant in Hungary to develop two new electric vehicle platforms, enabling the production of higher-end and value-added models.

The investment will be the largest announced so far this year, according to the Minister of Foreign Affairs and Trade Péter Szijjártó who added that the Hungarian government is providing financial support for the investment and also for a training program Mercedes Benz is launching.

“Series production of models of the new MMA platform (Mercedes Modular Architecture) will start in 2024, while a purely electric model of the MB.EA platform (Mercedes-Benz Electric Architecture) will start in 2025 in Kecskemét,” announced the company.

Mercedes-Benz is getting ready to go all-electric by the end of the decade, where market conditions allow. Shifting from electric-first to electric-only, the German luxury car company is accelerating toward an emissions-free future and the announced investment in the company’s Hungarian plant is also an important step in this process.

“With the successful start of serial production of the EQB in 2021, Kecskemét has clearly demonstrated its flexibility and expertise in the field of pure electric vehicle production,” said Jörg Burzer, member of the Mercedes-Benz Group AG board of directors responsible for production and supply chain.

He pointed out that by integrating new products, Mercedes Benz will increase the flexibility of its entire production network, and with an innovative production process, the company also sets a new standard in terms of sustainability.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular