Under the agreement, the new joint venture will build a new facility in Hungary, creating 500 jobs by 2023. The site will also be able to maintain and assemble passenger vehicles.  

The joint venture will aim to develop local engineering skills and will introduce a dual education model in collaboration with Hungarian universities.  

The agreement will complement the Mészáros Group’s existing handful of railway companies, which includes railway infrastructure engineering company V-Híd.  

The deal is a response to two recent developments: Transmashholding's (TMH) purchase of Dunakeszi Vehicle Repair (DJJ) in June 2020, previously earmarked by Stadler as a potential site to manufacture Stadler Kiss EMUs; and the announcement of plans by MÁV-Start to build a central servicing and maintenance base in Budapest.