EU opens in-depth probe into Hungary's Audi aid

Newswire

BRUSSELS, Oct 29 (Reuters) - The European Commission launched an in-depth investigation on Thursday into plans by Hungary to provide aid to Audi Hungaria Motor Kft, a subsidiary of the Volkswagen-Porsche Group . Hungary intends to subsidise the installation of high-tech production lines for new-generation engines and components for a range of cars produced by the Volkswagen-Porsche Group. The assistance totals 14.9 billion forints ($80 million) in the form of a direct grant and a tax ...

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