The Chinese battery manufacturer CATL formalizes the construction of a factory in Hungary.
Published on 6.9.2022
Chalenge reports: DEBRECEN, Hungary, Sept. 5 (Xinhua) – Chinese battery maker Contemporary Amperex Technology Limited (CATL) on Monday signed a real estate agreement with the city of Debrecen, Hungary, officially marking the start of construction of its second European factory.
Construction of CATL’s new Hungarian plant is expected to begin this year. Covering an area of 221 hectares in the South Debrecen Industrial Park, the plant will represent a total investment of 7.34 billion euros (about 7.28 billion US dollars), and is expected to reach a production capacity of 100 GWh. .
This investment by CATL is one of its five largest new foreign investments made in Europe in the past ten years, and is the largest investment ever made in Hungary.
“With this investment, we will be the third country in the world to have a CATL plant after China and Germany,” Hungarian Foreign and Trade Minister Peter Szijjarto said.
The CATL plant in Debrecen will also create 9,000 new jobs, according to Szijjarto.
Hungary benefits greatly from its pragmatic cooperation with China, a cooperation free from outside influence and based on mutual respect, he added.
“This new project in Hungary represents a giant leap forward for CATL’s global network,” CATL Founder and Chairman Zeng Yuqun said in a video speech.
CATL is committed to contributing and integrating with the local community and the Hungarian electric vehicle industry, he added.