Car battery plant to start production next year

Analysis

Japanʼs GS Yuasa Corporation is planning to build an electric vehicle battery plant in Miskolc, northeast Hungary. The plant would start production in September 2018, according to business daily Világgazdaság.

In the first phase of the investment, the Japanese company would set up an assembly facility in Miskolc. Hungaryʼs government is expected to declare the investment of "importance for the national economy" in December or January, to accelerate the process of obtaining permits, Világgazdaság reported.

The battery production plant would create 400 jobs and would supply rechargeable batteries to European electric car factories.

GS Yuasa Corporation has nine production plants worldwide, of which five are producing rechargeable Li-ion batteries.

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