After Hungary joined the European Union, it became a car manufacturing assembly base in European countries and component suppliers of large multinational enterprises. It has a deep foundation for the automotive industry. After the European debt crisis, the Hungarian government proposed a “development to the east” strategy, and used electrification as a new development direction of the automotive industry. Industrial chain and new energy vehicle supply chain new investment hotland.
In view of this background, Gai Shi Automobile focuses on discussing Chinese companies’ development strategies for the Hungarian market from two aspects: market status and progress.
Macro
• Stable economic environment: Hungary recovers rapidly from the haze of the epidemic, and the domestic economy has maintained steadily. It is expected that the GDP growth rate in 2024 is 2.2%. The Hungarian government has implemented a 12 -year compulsory education and a 19 -year free public education. The labor population generally has basic education level, but due to low treatment, the outflow is serious
• Policy guidance enterprises settled in: At present, the Hungarian automotive industry cluster is mainly concentrated in the northern Hungarian region, the Danube outside the Danube, and the Debreson area. Hungary has attracted foreign capital through cash subsidies and tax discounts. Enterprises can obtain up to 49.5 million euros cash subsidies and corporate income tax for 13 consecutive years to reduce 80%discount. The Hungarian government guides enterprises to settle in priority development areas by setting up subsidies.
• Friendship of China -Hungarian relations: Hungary is one of the most important trading partners in China in Central and Eastern Europe. The two sides have signed a number of bilateral trade agreements and framework cooperation agreements. In 2023, the total amount of bilateral trade between China and Hungary reached US $ 14.52 billion. Hungary is also one of the important distribution sites in the Central and European trains. At present, many trains have directly reached Budapest.