CATL Building EUR 7.3 bln Factory in Debrecen

Manufacturing

Photo by PP77LSK / Shutterstock.com

Mercedes-Benz Group AG will join China’s Contemporary Amperex Technology Co. Ltd. (CATL) in building a battery factory in Debrecen with an investment of  EUR 7.3 billion (USD 7.6 billion), according to Bloomberg.

The plant will have capacity of 100 gigawatt hours, enough to power more than 1 million cars, and will run on renewable energy, according to CATL, the world's largest electric vehicle battery producer.

In Debrecen (225 km east of Budapest), the facility will be in close proximity to customers BMW AG, Stellantis NV and Volkswagen AG, CATL said. 

Ministry of Foreign Affairs and Trade state secretary Levente Magyar said the plant built on the 21-hectare site would create around 9,000 jobs.

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