This year, the performance of the Hungarian automotive industry may exceed HUF ten thousand billion. This year alone, ten investments have started or will start, which will further increase the weight of the sector in the domestic economy. It was revealed on Friday that the largest investment of all time is being launched in Debrecen, where a Chinese battery factory is being built, M1 News reported.
The second European plant of the world's largest battery manufacturer will be built on a 221-hectare area near Debrecen, which will also be the largest investment in Hungary's history. The Chinese Contemporary Amporax Technology Co. will create nine thousand new jobs with its HUF three thousand billion development.
Archaeological excavations are already in full swing. The construction of the first plant can start already this year.
The factory uses state-of-the-art technology to produce the battery cells required for the production of electric cars, which will be delivered to European car manufacturers.
"It is a Chinese investment, in the area of the electric vehicle industry, which confirms that the government made the right decision when it announced the strategy of opening up to the East and defined the electric vehicle industry as one of the main axes of Hungarian economic development," said Levente Magyar, Ministry of Foreign Trade and Foreign Affairs parliamentary secretary of state.
Also in Debrecen, the foundation stone of one of Hungary's largest factories, BMW, was laid at the beginning of the summer. This started the construction of the industrial complex where the world's most modern cars will be manufactured.
A factory similar to the one in Germany is being built full of novelties. Thus, for example, Debrecen will be the first car factory in the world to produce without fossil energy carriers. Most of the electricity is produced on site.
According to the plans, 150,000 vehicles will be produced annually and all of them will be electrically powered. In other words, the company will have a huge need for batteries. According to market information, this is the main reason why the Chinese Contemporary decided to choose Hungary as the location of its investment.
In addition to the two large ones in Debrecen, further developments have also started in Hungary's second largest city. Thus, the EcoPro BM production line will be built at a cost of HUF 264 billion, where one of the components of electric car batteries will be produced.
They have also been building in Iváncsa in Fejér County since last year. After the factory in Komárom, the Korean SK Innovation is building one of Europe's largest battery factories here for HUF 680 billion.
In addition, half a dozen more investments related to battery production and the automotive industry have already started or will start in the near future. Examples include the development of South Korean Doosan or LG Chem and Japanese Toray. But in recent days, Mercedes has also announced that it will install new production lines in Kecskemét with an investment of HUF 400 billion.
Last year, the performance of the sector could reach HUF 9,400, and this year it could reach HUF ten thousand billion. Ten investments will be launched this year alone, which will further increase the weight of the vehicle industry. The combined value of the ten developments is close to HUF five thousand billion.
Source and full article: hirado.hu
Featured image: zaol.hu
