Infineon Technologies recently launched a €17 billion expansion plan at its base in Cegléd, central Hungary. The plan will create 533 jobs, receive the strong support of the Hungarian government and allocate 1.2 billion HFA (3.7 million euros) as construction funds.

The expansion plan includes a new central building, adding 2,000 square meters of space, and the new building will have offices and development laboratories.

Hungarian Minister of Foreign Affairs and Trade Peter Szijjártó emphasized that “It is important for enterprises involved in this technology to bring their investments, research and development activities or production to Hungary,”

Jochen Hanebeck, chief operating officer and board member of Infineon Technologies, said: “Infineon produces semiconductors that play an important role in electric vehicles, self-driving cars, solar cells and wind turbines, and data security.”