Economy
Europe approves $230M for EV battery plant in Hungary
Factory planned to have annual capacity of 30 gigawatt hours
Övünç Kutlu |
22.03.2022 - Update : 22.03.2022
ANKARA
The European Commission on Tuesday announced that it has approved €209 million ($230 million) in aid for Hungary for the construction of an electric vehicle (EVs) battery plant.
The investment will support the construction of a battery cell manufacturing plant in Hungary's Kozep-Dunantul region by the South Korean conglomerate SK Group.
The EV factory, which will manufacture lithium-ion battery cells and battery modules for electric vehicles, is planned to have an annual capacity of 30 gigawatt hours, the European Commission said in a statement.
SK Group's total investment in the project is estimated as €1.6 billion ($1.76 billion), it added.
Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
US, Chinese defense chiefs join southeast Asian counterparts in Laos for ASEAN annual meeting of defense ministers
Russia says it supported G20 call to end conflict in Ukraine because it was appropriately formulated
Russian president, Iraqi premier discuss situation in Middle East
International Criminal Court issues arrest warrants for Israeli Premier Netanyahu, former Defense Minister Gallant
US to allow Ukraine to use American-made anti-personnel mines to help it slow Russian advances
