South Korean EV Battery Production In Europe
Author: Source: Datetime: 2018-04-11 12:32:45
Manufacturers of lithium-ion batteries and plastic battery components have established a production plant in Hungary worth 25.7 million euros (31.6 million US dollars) for the production of electric vehicle power components. The company completed the renovation and decoration of the existing site acquired by Monor in the southeast of Budapest, the capital of Hungary.
SHINHEUNG in Osan, South Korea, received state assistance from the Hungarian government. The initial goal was to provide Samsung SDI, a major customer, with services from a nearby electric car battery factory.
The latest South Korean Euro investor provided 2.5 million euros (3 million U.S. dollars) in government grants to the Munno project and expects to create 300 jobs there by the end of next year. The Hungarian Foreign Affairs and Trade Minister Peter Siggagato is also The news agency MTI announced.
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