CATL, the world’s largest battery maker, has announced a plan to build a massive new battery factory in Hungary to supply automakers like Mercedes-Benz and BMW.
Contemporary Amperex Technology Co. Limited, abbreviated as CATL, somehow came out of nowhere. Founded just a decade ago, it has quickly grown to become the world’s largest battery cell manufacturer, supplying key companies in the electric revolution.
After Tesla started production in China at the Gigafactory Shanghai, CATL became a supplier to Tesla and helped the automaker transform the Gigafactory Shanghai into the largest electric vehicle factory in the world. In recent years, CATL has expanded outside of China, starting with Europe.
It started with a new battery factory in Germany and is now expanding with a second one in Europe.
CATL today announced a €7.34 billion (~$7.4 billion) investment in a 100 GWh battery plant in Debrecen, eastern Hungary:
On August 12, 2022, Contemporary Amperex Technology Co., Limited (CATL) officially announced that it will invest EUR 7.34 billion to build a 100 GWh battery plant in Debrecen, eastern Hungary, which will also be its second battery plant after its German plant in Europe is . Subject to the approval of the Annual General Meeting, construction of the first production facilities will begin this year.
dr Robin Zeng, Founder and Chairman of CATL, commented on the announcement:
Our Debrecen facility will undoubtedly enable us to further strengthen our competitive advantage, be more responsive to our European customers and accelerate the transition to e-mobility in Europe. The greenfield project in Hungary will be a giant leap in CATL’s global expansion and also an important step in our efforts to make an outstanding contribution to the pursuit of green energy for mankind.
CATL confirmed that the new plant will supply European automakers such as Mercedes-Benz, BMW, Stellantis and Volkswagen:
Debrecen is in the heart of Europe and with close proximity to some of its customers’ car plants such as Mercedes-Benz, BMW, Stellantis and Volkswagen, the CATL plant in Debrecen will allow it to better meet the battery needs of the European market. to improve the development of the global production network and to contribute to the acceleration of e-mobility and energy transition in Europe.
Construction is due to start later this year.
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