Hungary makes uninterruptible power supply factory

Will Hungary become a global hub of lithium-ion battery manufacturing?

The 7.3 billion euro ($7.9 billion) factory will be one of Hungary’s largest-ever foreign investments, and the government hopes it will make the Central European country a global hub of lithium-ion battery manufacturing in an era where governments are increasingly seeking to limit greenhouse gas emissions by switching to electric cars.

Will China build a battery plant in Hungary?

A Chinese company's plan to build a battery production plant in Hungary is set to make the central European country a leading hub in the sector, with experts saying it will help ease demand from the region's automakers as they accelerate the transition to electric vehicles, or EVs.

Will Hungary be a leader in EV battery production by 2035?

Yet despite these environmental struggles, Hungary’s government believes that the European Union’s ambitions to phase out the manufacture of internal combustion engine vehicles by 2035 present a unique opportunity for the country to take its place as a leader in EV battery production, and has embarked on a major push to attract such investments.

Is a gigaproject of Chinese industry taking shape in Hungary?

DEBRECEN, Hungary (AP) — Just beyond the pastoral gardens and traditional homes of an eastern Hungarian village, a gigaproject of Chinese industry is taking shape. Bulldozers and excavators are already preparing the land for construction of a nearly 550-acre electric vehicle (EV) battery plant.

Does attracting battery makers make sense for Hungary's economy?

Gabor Varkonyi, an auto industry expert, agrees that the effort to attract battery makers makes good sense for Hungary’s economy — especially given that more than 20% of the country’s exports comes from the automotive industry.

Is Hungary a meeting point of East-West investment?

Hungary’s foreign minister, Peter Szijjarto, said earlier this month in Beijing that the presence of those German carmakers had “inspired” the recent spate of Chinese investments in EV battery plants, and that “the Chinese suppliers of these German companies continue to regard Hungary as the meeting point of East-West investment.”