Sunwoda Building HUF 580 bln Plant in Nyíregyháza
Taj Che-hua, vice chairman of Sunwoda, speaks at a press conference announcing Sunwoda's investment in Hungary at the Ministry of Foreign Affairs and Trade on July 27, 2023.
Photo by Lajos Soós / MTI
Chinese battery maker Sunwoda will build a HUF 580 billion plant in Nyíregyháza (240 km northeast of Budapest), Minister of Foreign Affairs and Trade Péter Szijjártó announced yesterday, according to origo.hu.
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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