Giant to Establish Hungary Factory

After 32 years of operation in Europe, the Giant Group announced it will expand its footprint by establishing a second production facility in Hungary. Giant’s President, Ms. Bonnie Tu, CEO, Mr. Young Liu and Mr. Magyar Levente, Deputy Minister of Foreign Affairs and Trade, jointly announced the investment on the afternoon of July 4th.

Giant’s expansion in Europe further shows its long-term commitment and dedication to the European market. Establishing a production facility in Europe will also help reduce tax and transportation costs, improving Giant’s competitiveness and expanding Giant’s market position. 
The new Giant Hungary plant will occupy a land of around 22 hectares. This long-term investment is planned to be carried out in three (3) phases with the first (1st) phase bringing in an estimated capital spending of around 15 Million Euro and an estimated total investment of about 48 Million EUR after the three phases are completed. Construction of the first phase of this production facility is expected to be completed for production beginning in the second half of 2019. Initial production capacity is planned to be around 300,000 units and will focus on core European bicycle and E-bike models.

“With the ever-changing global landscape, having a production facility located close to the market, which can be quick to respond to market demands, is an inevitable trend in the modern business world, ”said Ms. Tu. “Hungary’s ideal geographical location within central Europe and its well-established transportation system will enable Giant to distribute our products to Eastern Europe as well as to mainland Europe. This is one of the key factors in choosing Hungary as the base for our second production facility in Europe.” 

The city of Gyöngyös is located in northern Hungary. It has access to various road network such as the M3 motorway, European route E71 and E3. Gyöngyös is formerly a mining town with excellent industrial base, and has recently become an important wine supplier to East and Central Europe.
Later in the afternoon of July 5th, Ms. Tu and Mr. Liu will preside over a ground-breaking ceremony of the new facility, which is located in the city of Gyöngyös, about 80km from Budapest in northern Hungary.