UK Markets open in 6 hrs 51 mins

Audi to invest $320.2 million to boost electric engine output in Hungary

FILE PHOTO: The logo of German car manufacturer Audi is seen on a tyre rim a Audi Q5 2.0 during a media tour in San Jose Chiapa

BUDAPEST (Reuters) - German carmaker Audi's Hungarian unit will invest 120 billion forints ($320.2 million) to ramp up electric engine production at its factory in western Hungary, Foreign Minister Peter Szijjarto said on Tuesday.

Szijjarto said Audi, which earlier said it could substantially boost output at the plant, would start manufacturing the new engines from 2025, adding 500 jobs at the plant, which Audi says is the world's biggest engine factory.

($1 = 374.76 forints)

(Reporting by Anita Komuves and Gergely Szakacs)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting