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BMW set to build new €1bn facility in Hungary

The Germany-based automotive company, BMW, has announced it is investing €1bn ($1.17bn) in a new car factory in Hungary, Reuters reports.

It is hoped that the project will aid the country’s growth and help to increase its standing in the premium car manufacturing market in the area.

BMW confirmed that its new facility is set to be built near Debrecen and is expected to hold a production capacity of 150,000 cars annually.

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