The Taiwanese bike manufacturer has announced construction plans for a new factory to manufacture pedelecs in the Hungarian Gyöngyös. Cost for the construction will run up to 46 million euro.
The news was initially broken by secretary of state Magyar Levente. He said that the factory will be built in the 33,000 person city 90 km east from Budapest and that the factory will be completed next year. The production capacity will likely be somewhere around 1 million pedelecs per year, and the sales for the factory will focus on eastern Europe.
Giant currently sells around 5 million bikes across 50 countries, according to their own statements. Next to the planned factory, Giant is already running factories in Taiwan, China and the Netherlands. The electrification of bikes has been growing in importance for the manufacturer. In 2017, Giant introduced a propulsion system specifically for mountain bikes named SyncDrive Pro, for example.