Chinese battery maker EVE Energy plans to build a plant in Hungary - PingWest
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Chinese battery maker EVE Energy plans to build a plant in Hungary
Chinese battery maker EVE Energy plans to build a plant in Hungary
May 10, 2023 2:16 am
Chinese battery maker EVE Energy plans to invest 1 billion euros ($1.1 billion) to build a battery production plant in the eastern Hungarian town of Debrecen, Hungarian Foreign Minister Peter Szijjarto said at a conference on Tuesday.
It will be the company's first factory in Europe and is designed to meet the demand for lithium-ion batteries for BMW's electric vehicles. The renowned German automaker is building a new electric car factory in Debrecen, with series production of the first all-electric New Class car due to begin in 2025.
Other European clients of EVE Energy include Daimler and Jaguar Land Rover.
Previously, in March 2022, EVE Energy disclosed its intention to acquire 45 hectares of land in the industrial zone of the Hungarian city for the development of a cylindrical battery base.
Eve Energy's round cells for the New Class are reportedly superior to those from Tesla because they have a higher energy density, and they allow for more range while the battery pack remains the same size.
The Guangdong-based company is also currently expanding its production capacity in China. New factories are planned or under construction in Chengdu, Yuxi, and Jingmen.
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