P.M. BRIEFING : Suzuki to Make Cars in Hungary

Suzuki Motor Co., Japan’s top mini-car maker, said today that it has agreed to launch a $138-million joint venture in Hungary to manufacture subcompact passenger cars. It is the first such move to Eastern Europe by any Western or Japanese car maker.

The company said the project calls for production of Suzuki’s 1,000-cc and 1,300-cc Swift passenger car models in Esztergom, 30 miles north of Budapest.

Production will start in 1992 at an annual rate of 15,000 units. The volume will be increased to 50,000 units in three years and then to 100,000 units in the future, the company said.

The joint venture, capitalized at 10 billion yen ($69 million), will be owned 50% by Hungary’s Autokonszern RT. and 30% by Suzuki. The remaining 20% will be shared by C. Itoh & Co., the Japanese trading firm, and the World Bank-affiliated International Finance Corp., the company said.