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Schaeffler Opens New E-mobility Plant In Hungary

Schaeffler AG (SCFLF.OB) said that it has opened a new production facility at its Szombathely location in the west of Hungary and creates 150 new jobs in e-mobility.

Szombathely II provides around 15,000 square meters of space for the production of powertrain components and solutions, such as electric motors and hybrid drives. Designed as a "factory for tomorrow," it features a high degree of automation, modular production buildings, and end-to-end digitalization, the company said in a statement.

Schaeffler noted that it will increase the facility's round-the-clock output capacity to 800,000 products a year by 2023, and has further plans to expand its annual output of finished products for premium partners in the auto industry to 1.8 million between 2026 and 2029.

Schaeffler Group expects to be generating new orders of between 2 and 3 billion euros annually from its e-mobility business from 2022 on.

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