Hungary gained a step advantage
Only one global economic process could not be disrupted by the pandemic and the war, and that is the automotive revolution, as part of which car production is switching to electric propulsion. Hungary has gained a significant advantage in this area. At the request of the Hungarian Nation, the Ministry of Foreign Affairs and Trade drew attention to the fact that by 2030 sixty percent of the new cars sold will be electric.
– Electric cars are manufactured by Western companies, the batteries required for this are produced in Eastern countries: China and South Korea – explained the ministry. The ministry emphasized that apart from Germany and China, the three major German premium car brands, Mercedes, Audi and BMW, will be the only ones with production capacity in Hungary. All of this was also brought about by the fact that the world’s largest companies producing batteries for electric cars are investing in our country.
Three of the Chinese, South Korean and Japanese companies that dominate the world market for electric batteries have located their European production centers here.
SK On operates two factories in Komárom, Samsung SDI operates in Gödö, and the GS Yuasa factory operates in Miskolc. restaurant is building a plant in SK On Iváncsán, which is scheduled to start production in 2023. According to CATL’s announcement in August, it will establish a factory in Debrecen, which is expected to start production in 2025. China’s CATL investment moreover, it represents the largest ever development in our country, with a total value of approximately three thousand billion forints. The world’s largest battery manufacturer chose Hungary to build its second European plant after two and a half years of negotiations, following huge international competition. This is not only huge sums on a domestic scale, but also ranks among the five largest green field investments in Europe in the last ten years.