Hungarian Investment Promotion Agency

Chervon Auto will produce metal automotive parts as well as cast and machine-processed parts for e-cars in the capital of Borsod-Abaúj-Zemplén County. As a result of the second investment announced at the Shanghai Stock Exchange a few days ago, the capacities of the first phase will grow, while one of Hungary’s largest cranes will also be installed. Accordingly, the size of the phase 1 production hall of nearly 26,000 sqm will go up to over 31,000 sqm of which construction has already begun.

As Gyula Gaál, company executive of Chervon Autó Precíziós Technológia (Európa) Kft. pointed out, the EU announced to reach full decarbonization by 2050, and according to another objective 50% of vehicles should be electric by 2030, so Chevron’s investment timing couldn’t be any better. Therefore, it is even more pleasant that the project succeeded in Hungary.

Gyula Gaál said.

The investment announced now will have its direct impact from 2024 on when it is projected to add 30% to revenues of phase 1 capacities; then by 2026 that ratio is to go up to 100%, the expert concluded.