South Koreaʼs Hankook Tire Magyarország is planning to start the fourth phase of the expansion of its plant in Rácalmás, south of Budapest. Costs associated with the fourth phase of the expansion are estimated at HUF 89bn, HUF 2.97bn of which will be covered by a government grant. The expansion is scheduled for completion in 2020, with production to start in June of that year. The plant supplies tires to brands like Audi, Opel, BMW, Fiat, Ford, Seat, Škoda, Porsche and Volkswagen.
