10.8 C
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

Supported by

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

Related posts

Teako Minerals unveils strategic repositioning with Norway as central focus

David Lazarevic

Cultivating Wealth in the Balkans: Unleashing Growth and Value via Exploration

David Lazarevic

Embarking on a mineral-rich expedition: Avrupa Minerals Ltd.’s quest in the depths of Portugal and Finland

David Lazarevic
error: Content is protected !!