Joyson Safety Systems investing HUF 16bn in Hungarian plant

Joyson Safety Systems will invest HUF 16bn to expand its plant in Miskolc, northeastern Hungary. The Hungarian government will support the project with a HUF 4.9bn grant. The Chinese company designs and produces safety systems for vehicles. About 90 percent of the output is exported to 35 of the largest car manufacturers on the global market. The Miskolc plant was built in 2014 for the Japanese airbag maker Takata, which has since gone bankrupt. The property is valued at €68m.