Chinese battery manufacturer Huayou Cobalt will invest EUR 1,4bn to build its first European plant in Ács, Hungary

The official announcement ceremony for the Huayou-B&M Hungary High-Nickel Ternary Cathode Material Green Intelligent Manufacturing Project took place at the Hungarian Ministry of Foreign Affairs. This event marked the official initiation of Huayou’s investment and construction of a new energy lithium battery material project in Europe. His Excellency Mr. Péter Szijjártó, the Minister of Foreign Affairs and Trade of Hungary, and Mr. Chen Hongliang, the President of Huayou Cobalt, attended ceremony .

During the ceremony, Mr. Szijjártó highlighted the enduring China-Hungary relationship, which thrives on mutual benefit and mutual respect. He expressed his delight that Hungary is becoming a hub for Chinese companies seeking to expand their operations in Europe, and he welcomed Huayou to invest and construct in Hungary. As a global leader in new energy lithium battery materials, Huayou has consistently pursued a path of green and sustainable development. Furthermore, Huayou actively embraces social responsibility, engages in community development, and prioritizes the growth of its employees. The Hungarian government is fully committed to providing the utmost support to Huayou’s project in Hungary and eagerly anticipates the company’s contributions to the development of Hungary’s new energy automotive industry.

“Bosom friends make distance disappear.” Chen Hongliang expresses sincere gratitude to the Hungarian Ministry of Foreign Affairs for hosting the official announcement ceremony and extends his appreciation to all the esteemed leaders and guests in attendance. He emphasized that the China-Hungary relationship has a deep-rooted history. On the occasion of the tenth anniversary of “The Belt and Road Initiative” and with the appeal of Hungary’s “Opening to the East” policy and the supportive care of the government, they intend to invest in and establish a green intelligent manufacturing factory for high-nickel ternary cathode materials in the city of Ács. The factory’s products will meet the demands of prominent battery manufacturers such as CATL, EVE, AESC, LGES, and are anticipated to be utilized in the new energy vehicles of renowned European automakers like BMW, Volkswagen, Renault, and others.

The Huayou High-Nickel Ternary Cathode Material Green Intelligent Manufacturing Project in Hungary represents that not only Huayou’s inaugural industrial investment venture in Europe but also its first cathode factory and intelligent manufacturing base. It symbolizes a significant milestone in Huayou’s commitment to high-level openness, international business strategies, and high-quality development, as it heralds the company’s entry into the European market.

Huayou pledges to rigorously adhere to Hungarian and EU laws and regulations while embracing an investment concept focused on making meaningful contributions to the local economy and society in every location it invests. The company is wholeheartedly dedicated to integrating with the local community and achieving a green, sustainable, and high-quality development of the factory through cutting-edge process design, low-carbon intelligent manufacturing technologies, and top-tier ESG management practices. The project aims to set a new standard in the realm of new energy lithium batteries. Furthermore, Huayou considers this endeavor as a starting point for its expansion into Europe and the future, intending to contribute Huayou’s newfound strength to the joint construction of “The Belt and Road Initiative”.