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Mercedes-Benz to invest €1B in 2nd Hungary plant

Daimler AG-owned Mercedes-Benz will invest €1 billion in a new vehicle plant in Kecskemét, Hungary, according to a company announcement.

The 382,033-square-meter facility will be the German car maker's second plant in the country. It will house a press shop, a built-in-white shop, a paint shop and an assembly hall.

The plant is expected to produce several units, including compact models, rear-wheel-drive sedans and electric vehicles. Mercedes-Benz is looking to create about 2,500 jobs with the new site.

The automaker started construction of the facility June 5.