Slovakia has lost out to Hungary in the search by Apollo Tyres for a European location for its planned new factory. The neighbors were the final two locations considered, but it’s being reported that the Indian-based company chose Hungary. The USD 685m investment was expected to take four years to complete, with the facility designed to turn out up to 16,000 car tires and 3,000 truck tires on a daily basis. Apollo Tyres said that its inability to meet demand in Europe’s recovering automobile sector had forced it to invest in a new production facility.
