Stellantis, one of the world’s largest automotive conglomerates, is investing approximately 20 billion forints in the Hungarian start-up aiMotive, which focuses on autonomous driving technology and was acquired by the company last year. The Hungarian government is providing 5 billion forints in support for this investment, as announced by the Parliamentary State Secretary of the Ministry of Foreign Affairs and Trade during a press conference in Budapest on Monday.
Levente Magyar stated that Stellantis, which owns fourteen automotive brands, has chosen Hungary as the hub for autonomous driving technology and electrification. ‘We are proud that Hungary…has become one of the leading automotive powers in the world in just under 20 years,’ he said, adding that the country is among the top 20 in terms of automotive production.
The state secretary emphasized that the future in the automotive industry is represented by automated driving and green technologies. He also mentioned that
Hungary is the fourth-largest battery producer globally, and it could soon move into second place after China.
He discussed how the government aims to further enhance Hungary’s global position in automobile manufacturing with this investment, as the automotive sector is one of the most crucial pillars of the national economy. Magyar recalled that aiMotive was founded by a group of young Hungarians in 2015, and following the acquisition by Stellantis, the conglomerate decided to maintain the Hungarian leadership of the software company.
At the event, Vice President of Software and Artificial Intelligence Development at Stellantis Heiko Schilling mentioned that by 2026, aiMotive’s developments could be integrated into the vehicles of the 14 brands under Stellantis. He added that the Budapest-based company is working concurrently on autonomous driving technology and vehicle electrification. aiMotive currently employs more than 200 people, and they plan to increase this workforce by 40. The executive noted that in Hungary there was virtually no automotive industry in the 1990s, and now, more than 150,000 people work in this sector, which is a significant achievement.
Stellantis is one of the world’s largest and most prominent automotive conglomerates, formed through the merger of two major automotive groups: Fiat Chrysler Automobiles (FCA) and Peugeot SA (Groupe PSA). The merger was completed on 16 January 2021, and the company was officially named Stellantis. Stellantis focuses on innovation and technology in the automotive industry, including developments in autonomous driving, connectivity, and advanced safety features to stay competitive in the rapidly evolving automotive landscape. Stellantis offers a diverse line-up of vehicles, from compact cars and sedans to SUVs, trucks, and luxury automobiles. The company covers a broad spectrum of automotive segments to meet the needs of different customers.
Stellantis continues to be a significant player in the automotive sector, aiming to adapt to changing consumer preferences, emissions regulations, and the evolving technology landscape. It’s well-positioned to play a pivotal role in the future of the automotive industry, particularly with its diverse brand portfolio and commitment to sustainability.