Yet Another Leading Battery Manufacturer Chooses Hungary As Investment Location
2023. 07. 27.
The Hungarian EV ecosystem is going to be enriched by yet another battery manufacturer that is ranked top 10 in the world. The announcement by Sunwoda of an initial investment of EUR 245 million marks a new chapter in the history of the Chinese firm to set up shop in Nyíregyháza.
Sunwoda, a Chinese listed company is among the world’s 10 largest battery manufacturers that also pursues substantial R&D activities.
Sunwoda has now decided to expand its operation in Europe by setting up its first plant in Nyíregyháza. The company will start with initial investment of 245 million EUR. Its mid-long-term European market strategy, in turn, may create more than 1,000 jobs and may result in up to around 1.5 billion EUR of investment volume. The initial phase of the project is scheduled to be running by the end of 2025.
Ninety percent of the water demand in the production phase will be covered by using purified wastewater for cooling towers and technological purposes as well, thus saving the local fresh water supply for communal needs.
On the other hand, the Chinese giant undertook to operate with lower emission threshold in connection with chemical components like NMP, cobalt and nickel than as it is required by the laws of Hungary. To ensure sustainable operation, the company is installing BAT (best available technology) at its first European plant.
