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Nat'l Economy Minister Presses for Incentives to Boost E-Mobility Transition

Automotive

National Economy Minister Márton Nagy pointed to a slowdown in the electromobility transition in Europe and urged incentives for states, manufacturers and consumers, delivering a presentation at a business development event in Debrecen on Wednesday, according to a report by state news wire MTI.

Electromobility is a "fundamental element" of the Hungarian economy, Nagy said, adding that the transition should be "as rapid as possible, without any reversal". He noted the construction of an EV plant by German carmaker BMW and a battery manufacturing facility by China's CATL in Debrecen.

Nagy said Europe still needed "several hundred thousand" EV charging stations for the electromobility transition, adding that the continent was "well behind" China which was able to develop its EV manufacturing sector and charging station network at the same time.

Europe lacks an electromobility strategy, which is the most important economic issue for Hungary, he said. Hungary's presidency of the Council of the European Union in the second half of the year could give new impetus to the matter, he added.

He said that car makers needed to have a voice in shaping that strategy, but added that the sector needed to compete with the Chinese and excluded the introduction of any punitive tariffs on Chinese products.

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