Sunwoda, one of the top 10 battery makers in the world, will invest HUF 93 bln in the initial phase of the investment, which will create "several thousand" jobs, Szijjártó said. The plant, Sunwoda's first in Europe, will meet growing demand from European car makers, he added.
He noted that the investment was the biggest announced so far this year and the third with a value of more than EUR 1 bln, paving the way for FDI to double from last year. Competition to attract the investment was "extraordinarily fierce" and pitted Hungary against several other countries known for their automotive industries, he said.
Hungary is the fourth largest producer of EV batteries in the world.
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