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.
