2023-07-27 20:04:25
By: | Tags: Hungary-Sunwoda-battery factory
French.china.org.cn | Updated on 28-07-2023
Chinese company Sunwoda Electric plans to build a battery factory for electric vehicles with an investment of 580 billion Hungarian forints (regarding 1.7 billion US dollars) in Nyiregyhaza, northeastern Hungary, the report announced on Thursday. Hungarian Minister for Foreign Affairs and Trade, Peter Szijjarto.
Sunwoda, one of the world’s leading battery makers, will initially invest 93 billion Hungarian forints in the project and create “several thousand” jobs. This will be the company’s first European plant, which will aim to meet growing demand from European automakers.
Szijjarto said the investment was the largest announced in Hungary this year and the third to exceed one billion euros (around US$1.1 billion). This paves the way for a doubling of foreign direct investment compared to the previous year, underlining Hungary’s commitment to surpassing last year’s investment record.
Construction of Sunwoda’s factory in the Nyiregyhaza industrial park is expected to start in 2024, with production starting in late 2025, the company said. The plant will supply lithium-ion batteries to automotive companies on the mainland.
Follow China.org.cn on
Twitter
et Facebook to join the conversation.
1690509309
#Chinese #company #Sunwoda #build #battery #factory #Hungary
