eTruck Motor planning major e-lorry production investment

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Hungaryʼs eTruck Motor plans to build almost EUR 10 billion of production capacity for electric lorries around the country, business daily Világgazdaság reported today, as cited by state news wire MTI.

eTruck Motor is already in talks with the Ministry of Agriculture and the mayor of Hegyeshalom (175 km northwest of Budapest) about acquiring a plot of land on the cityʼs outskirts to build an assembly plant, project manager Gábor Benke told the paper.

eTruck Motor is majority owned by Hungaryʼs König Investment, Világgazdaság noted. A further 2% of the company is in Chinese hands, with Hungarian private individuals owning 5%, it added.

König Bank will manage the financing for the investment, which will include private equity as well as support from the United Nations Industrial Development Organization and the European Union, according to plans, the paper said. 

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