August 20, 2018 Monday
Text smaller
|
Text larger
Home
Newsletter
Advanced search
Transport industry
World’s biggest bicycle producer expands to Hungary
Taiwan-based Giant Group is going to establish its second European manufacturing and logistics unit in Gyöngyös, east of Budapest. Worth almost EUR 48 million, the investment, which is to be realized in three phases, shall occupy 228,000 square meters.
Diplomacy&Trade online | July 11, 2018

Production is expected to be started in the second half of 2019 due to the huge European demand. It is planned to start with a production capacity of 300,000 bicycles but their target is to achieve one million bicycles produced annually, creating 591 new jobs. The Hungarian plant is going to focus on core European bicycle and E-bike models, the Hungarian Investment Promotion Agency (HIPA) reports.

According to the Hungarian news agency MTI, the President of Giant Global Group Bonnie Tu emphasised that Europe is not just the birthplace of cycling, but also the most important market for bicycles. “Hungary lies at the centre of the continent, has the industrial foundations and capabilities required for production, and Gyöngyös, which will be hosting the plant, is highly suited for the investment in view of its excellent transport links”, she explained.

   
   
Copyright © 2009 Duax Kft. - All rights reserved