TAICHUNG, Taiwan (BRAIN) — Giant announced production and distribution expansions in Europe this week, signaling its commitment to that market and its eye on reducing costs. Giant currently sells more than 400,000 bikes annually in Europe, including traditional bikes and e-bikes.
Giant is establishing a second factory in Hungary, in the city of Gyöngyös, about 80 kilometers from Budapest. Gyöngyös is in northern Hungary and has access to various road networks such as the M3 motorway, European route E71 and E3. A former mining town with an industrial base, it has recently become an important wine supplier to East and Central Europe.
Giant said the new factory is a long-term investment that it plans to carry out in three phases with the first phase bringing in an estimated capital spending of around 15 million euros. Total investment in the new factory will be an estimated 48 million euros ($56.3 million).
Construction of the first phase of the new production facility is expected to be completed by the second half of 2019. Initial production capacity will be around 300,000 units and will focus on core European bicycle and e-bike models.
“With the ever-changing global landscape, having a production facility located close to the market, …read more