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CATL to Set Up $7.6 Billion Hungary Battery Plant to Supply BMW, Mercedes

by Editor August 16, 2022, 4:32 am 1.3k Views

CATL to Set Up $7.6 Billion Hungary Battery Plant to Supply BMW, Mercedes Amid Growing Demand

China’s CATL said on Friday it would build a EUR 7.3 billion (roughly Rs. 59,600 crore) battery plant in Hungary, Europe’s largest so far, as the world’s biggest electric vehicle battery maker gears up to meet growing demand from global automakers.

CATL said that construction of the 100 GWh (gigawatt hours) plant in the eastern Hungarian city of Debrecen, its biggest overseas investment, would start this year after receiving approvals, and…

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