Chinese power battery giant CATL to build battery production base in Hungary
Chinese power battery giant CATL to build battery production base in Hungary

Chinese power battery giant CATL to build battery production base in Hungary

 

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Chinese power battery giant CATL said that it plans to build a battery production base in Hungary, following NIO’s announcement last month to build a battery swap station plant in the country.

CATL plans to build a battery base project in Debrecen, Hungary, with a total investment of no more than 7.34 billion euros, according to a stock exchange filing on Friday. The company will build a power battery system production line in Hungary with an annual capacity of 100 GWh, it said. The move is to further deepen its global strategic layout, promote overseas business development and meet overseas market demand, it said.

CATL’s wholly-owned subsidiary, Contemporary Amperex Technology Hungary Projekt Menedzsment Korlátolt FelelÅ‘sségű Társaság, established in Budapest in February this year, will be in charge of the project.

The construction of the project, which has a planned site area of about 2.21 million square meters, will take no more than 64 months, with the construction of the first building to begin this year after approval, CATL said.

In late July, Nio announced that its NIO Power Europe Plant in Pest, Hungary, will be operational in September and it will be NIO’s first overseas plant, covering about 10,000 square meters, and will serve as a production, service and R&D center for NIO’s power products in Europe. The plant’s main operations include production and after-sales service of battery swap stations, training for European power operations, and research and development of power products.