CATL to open Hungarian plant

Contemporary Amperex Technology Co Ltd, the world's largest battery maker for electric vehicles, inked a deal with the city of Debrecen in Hungary on Monday to officially kick off its second European plant in the city.

Covering an area of 221 hectares in the Southern Industrial Park of Debrecen, the construction of CATL's Hungarian plant is scheduled to begin this year. With a total investment of 7.34 billion euros ($7.28 billion), the plant is expected to achieve a production capacity of 100 GWh.

CATL's investment is among the five largest greenfield foreign investments made in Europe in the last ten years, and the largest investment ever in Hungary.

chengyu@chinadaily.com.cn