Hong Kong-based technology firm Lenovo Group will build a $26.3 million manufacturing facility in Hungary create 1,000 jobs and introduce advanced technological solutions, says the country's Minister of Foreign Affairs and Trade Peter Szijjarto.
The investment was supported by a $6.4 million Hungarian government grant.
The plant, which will rise in Ullo on the outskirts of Budapest, could start producing desktops, data center products, and workstations by early 2021.
The minister noted that the investment would accelerate industrial production and offer great opportunities for Hungary's economy and its engineers.
Szijjarto stressed that investment confirmed that leading technology companies trusted Hungary.
He added that global competition for Lenovo's investment was fierce.
Lenovo's presence in Hungary is currently based solely on trade, utilizing a workforce of 80.


Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports
Instagram Outage Disrupts Thousands of U.S. Users
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates
Ford and Geely Explore Strategic Manufacturing Partnership in Europe
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences
Washington Post Publisher Will Lewis Steps Down After Layoffs
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 



