José Avila, Member of the Executive Board of Continental and Head of the Powertrain Division: "With the strategic decision for a new production plant in Debrecen, Continental is further expanding its presence in Europe in order to better serve the increasing customer demand for automotive electronics."

"The expansion of our location in Europe with the new plant in Debrecen is an important step towards the international diversification of our production for state-of-the-art automotive electronics. Together with the Hungarian government, we are in a position to significantly expand our production capacities and drive forward the development of new technologies," added Dr. Hans-Jürgen Braun, head of the 30 electronics plants worldwide.

"Having won the trust of our customers with the first-class quality of our products and services, we can also expand our operating locations in the field of sensor and actuator production and transmission control systems. The investment in Debrecen shows that Continental regards Hungary as a strategic partner and a reliable country with which the company wants to cooperate for future success. Hungary remains a strategic investment area for Continental", says Dániel Rábai, Head of Focus Country, Continental Hungary.

"As the second largest city in Hungary, which is also a regional center with an excellent infrastructure and highly qualified workforce, Debrecen is the ideal location for our next expansion. The decision reflects the appreciation of the existing Continental organization in Hungary, which has earned great trust with its performance so far," explains Dr. Róbert Keszte, Managing Director of Continental Automotive Ltd. and adds: "The Hungarian government and the local administration have been very supportive in preparing the investment, so that we can move forward quickly and complete the construction work by mid-2019."

"The establishment of Continental's new production plant is further proof that Hungary is one of the most attractive European countries for investment in the automotive sector. Automotive companies in Hungary, which can rely on Hungarian expertise, productivity and creativity, strategic geographical location and favorable manufacturing costs, are continuously expanding their presence, developing their products and making long-term commitments in the country. Continental's new plant will further improve Hungary's competitiveness and strengthen the country's position as a regional hub in the automotive industry," said Róbert Ésik, President of the Hungarian Investment Promotion Agency (HIPA).

Products from the Transmission and Sensors & Actuators divisions will be the first to be manufactured for the EU market at the new 7,000 square meter production facility. kp