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17/06/2024
Mining News

Hungary Bolsters Commitment to Battery Technology with Investment in Debrecen Battery Park

Hungary has announced to invest 700 billion forints, approximately two billion US dollars or 1.8 billion euros, in the Debrecen Industrial Park. The funds are to be used to prepare the site for announced investments of battery manufacturers. The modernization measures concern the areas of transport, roads, water, and wastewater supply. This spending comes on top of the direct subsidies already given to companies such as BMW and CATL.

Set to become the world’s fourth-largest battery producer

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Over the past eight years, Debrecen has attracted 12.5 billion euros, corresponding to 13.7 billion US dollars, in foreign direct investment, mainly from battery manufacturers and their suppliers. Once realized, these investments could make the country the fourth-largest battery producer in the world. The jobs these companies bring to the region are expected to increase Debrecen’s population by 25% to 250,000. Therfore, more investments are already planned.

 

Source: Battery News

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