Mr. Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary, met representatives from Shanghai Baolong Automotive Corporation at Garden Hotel Shanghai on Nov 5, the opening day of the 2nd Expo. The two sides had a cordial communication on the investment environment and supportive policy of automotive industry in Hungary. Frank Yin, Secretary of the Board and James Wang, General Manager of Automotive Sensors Division, attended the meeting.
Mr. Peter Szijjarto firstly applauded for Baolong’s investment and acquisition of PEX Automotive Systems Kft (an automobile corporation in Hungary) last year. He said that Hungary was one of the fastest growing economies in Europe and automotive industry was the pillar of Hungary. At present, export volume of automotive industry accounted for 28% of total export value of Hungary. He also introduced Hungary’s investment advantages in industry base, taxation, talents and labor force. “Hungarian government has always been highly open to foreign investment. Industry giants such as BMW, Audi and BYD have set up factories in Hungary and Hungarian government will continue to encourage foreign investment through cutting tax, increasing subsidies, opening VIP channels and expanding machinery and engineering majors in collages, etc.”, he said.
Regarding to Baolong’s plan of buying land for construction of a new factory in order to move away from the current rented site and shorten the commuting distance , Mr. Peter Szijjarto said that the government would like to provide convenience during application process, and offer corresponding support plans according to the location of the land Baolong would like to buy. Representatives from Baolong mentioned that in future Hungarian facotory of PEX would be built as sensors production base of Baolong in Europe--Firstly Baolong would expand PEX’s production scale of existing products; Secondly, Baolong would introduce its other existing automotive sensor products to Hungarian factory and thus they could be manufactured in Hungary and supplied for European customers. Representatives from Baolong also talked about the plan of setting a R&D sub-center of automotive sensors in Hungary.
Mr. Peter Szijjarto totally approved Baolong’s positioning for PEX. He said that as intelligence and electrification were the leading trend of automotive industry, Hungarian government encouraged companies to follow this trend and expand to innovative product lines. Besides, he specially mentioned, "Five universities in Hungary have opened Chinese majors, and there’s a specialized Chinese school in Budapest, the capital of Hungary, which will sure export a large number of local Chinese-speaking talents for Chinese companies investing in Hungary, and provide extraordinary assistance for their local development."
About Baolong Automotive
Baolong Automotive was founded in 1997 and is headquartered in Shanghai, China. Baolong is an automotive supplier with production facilities in China, the USA, Hungary, Germany and distribution centers in China, the USA, Germany, Poland, Japan, etc. Baolong uses its expertise in automotive technology to offer high-quality orientated, competent and creative products for its customers. The products include tire valves, wheel weights, air spring, aluminum parts, performance exhaust tips, hydroforming chassis & body parts, TPMS, pressure sensors, rain-light-humidity sensor, current transducers, cameras, millimeter-wave radars, etc. With more than 3,900 employees, the company generated a turnover of around 2.3 billion RMB in 2018.
About PEX
As a member of Baolong Automotive, PEX is the provider of sensing and smart connection solutions for the automotive industry with a rich experience in development, tooling production, prototyping, manufacturing, series supply, aftermarket, test and validation. The products of PEX include wear indicator, temperature sensor, HALL sensor, special cable solutions and smart busbars.
http://www.pex.de
