‘If the European Union views China as a rival, it will lose out. It has become evident in recent years that China has a competitive advantage in many areas of the economy,’ the minister declared. He emphasised that if the EU wants to benefit from its relationship with China, it should focus on cooperation based on mutual trust, respect, and benefits rather than rivalry.

Péter Szijjártó emphasised that except for Germany and China, Hungary is the only country where all three German luxury car brands have factories, and three of the world’s top ten electric battery manufacturers are already present in Hungary.

Péter Szijjártó pointed out that Hungary is already the world’s fourth-largest producer of electric batteries and that in the last thirteen months, batteries have been the country’s top export product.

At the meeting, the parties agreed to strengthen cooperation. They also shared the view that government support needs to be provided in order to protect Hungary’s strategically important automotive industry and preserve jobs.

‘Hungary must be a country that can have Hungarians do all the work that needs to be done in this country. If it’s uncomfortable or difficult, we need to pay more for it. If we have exhausted all of these options, then we can talk about guest workers. They can stay for a definite period, and their employment can be terminated if necessary, otherwise, we will lose our security,’ Viktor Orbán underlined.

The massive electric vehicle-related investments that Debrecen has secured over the past year represent a major step in Hungary’s shift toward a more sustainable economic development.

On 21 July, Minister Péter Szijjártó announced a HUF 400 billion expansion investment at Mercedes-Benz’s factory in Kecskemét.

Overall, the German automotive industry employs around 50, 000 people in the country and generates 2.5 per cent of the Hungarian GDP. The production value of the industry rose by 165 per cent between 2010-2019, so the influence and significance of the auto manufacturing industry is on the rise in Hungary.