Péter Szijjártó announced a new battery industry giant investment
China’s Huayou Cobalt is building its first European plant in Acs, creating 900 new jobs.
China’s Huayou Cobalt is creating 900 new jobs with a huge investment of around HUF 520 billion.The company is building its first European plant in Acs, where it will produce cathodes for electric batteries, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Wednesday. The ministry said that the high-tech company, which specialises in the development and production of lithium-ion batteries and new cobalt materials, will have a capacity of around 100,000 tonnes per year.
The investment, worth around HUF 520 billion, will create 900 new jobs with financial support from the state, but the amount will only be disclosed once it has been approved by the European Commission. He stressed that the value of the investment exceeds one billion dollars, of which there were 159 in the world last year, and that this is the second announcement of similar volume in Hungary this year.
Source : www.mandiner.hu
