CATL plans to build a battery base in Debrecen, Hungary, with a total investment of no more than EUR 7.34 billion.
China's battery giant Contemporary Amperex Technology Co Ltd (CATL) will invest EUR 7.34 billion (USD 7.5 billion/ CNY 51 billion) to build a 100 Gwh battery plant in the eastern industrial hub of Debrecen, in proximity to the car plants of Mercedes-Benz, BMW, Stellantis and Volkswagen.
Hungary has the third-biggest electric battery production capacity in the world following China and the United States and its capacity is set to triple from 50GWh a year to 150GWh by 2025.
According to the announcement, CATL will build a power battery system production line in Hungary with an annual capacity of 100 GWh. With a planned site area of about 2.21 million square meters, the project is expected to take less than 64 months and the construction will begin this year once it is approved by the local government, CATL said.
With the rapid development of the new energy industry worldwide, especially in Europe, the power battery market continues to expand. The greenfield project in Hungary will be a giant leap in CATL's global expansion and also a significant contribution to the green energy transformation for society, said CATL chairman Robin Zeng in a recent statement.
In addition, CATL announced it will continue to explore opportunities of establishing battery material plants with local partners to promote the establishment of a complete value chain for recyclable and sustainable batteries as part of its efforts to expand its global production network and accelerate e-mobility and energy transition in Europe.