Giant Bicycle has announced an investment of €48 million in a new factory in Gyöngyös, Hungary. In a first phase, the factory will start producing 300,000 bikes a year in the second half of 2019, focusing on e-bikes, following the new tariff barriers implemented by the European Union for this type of product. The Hungarian factory, whose capacity is set to be expanded gradually to one million units, will complement Giant's existing plant in the Netherlands, which currently makes around 200,000 bicycles annually, about half of the volume it sells in Europe. Giant is also investing €13.5 million to open a new distribution center in the Netherlands to help support the growing European demand for e-bikes.

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