The foundation stone laying ceremony and investment announcement of Evoring, the Hungarian subsidiary of Shuanghuan Transmission, took place in the Hungarian town of Aszfenyesharos. This marks Shuanghuan Transmission's first step into international production and symbolises an important step forward in the company's globalisation.
At the ceremony, the Chinese embassy in Hungary, the Hungarian government and Shuanghuan Transmission executives jointly laid the foundation stone for the new company. Representatives from KAPP NILES, a global business partner of Shuanghuan, were also present at the ceremony.
Shuanghuan Transmission's future plant in Hungary is located in the town of Aszfenyesharos, near the capital Budapest, and will cover an area of 24,000 square metres. Production is scheduled to start in 2025.
Wu Changhong emphasised the importance of the plant in Hungary in strengthening Shuanghuan Transmission's presence in the European market and improving its international competitiveness and brand image. Shuanghuan Transmission plans to make the Hungarian subsidiary the largest specialised transmission manufacturer in Europe and drive the development of the electric car industry in Hungary and Europe.
Since its establishment, Shuanghuan Transmission has undergone a development spanning three countries, more than ten cities, with more than ten subsidiaries and thirteen production bases. The company strives to become one of the top 100 automotive suppliers in the world.