China's CATL plans renewables-powered EV battery factory in Hungary

China’s Contemporary Amperex Technology Co Ltd (SHE:300750), or CATL, on Friday unveiled plans for the construction of a renewable energy-powered factory for car battery cells and modules in Hungary.

The Chinese manufacturer intends to spend EUR 7.34 billion (USD 7.5bn) on building the 100-GWh production facility, which will be its second one in Europe. It will be located in an industrial area of 221 ha (546 acres) in the city of Debrecen, the capital of Hungary’s Northern Great Plain region.

To power the manufacturing process, CATL will use electricity from renewable energy sources. Its future plans also include the development of solar power projects together with local partners.

The project is pending shareholder clearance. Provided it is given the green light, CATL intends to begin construction works within the current year, it said.

At present, CATL is in the process of commissioning its German battery production plant, which is expected to roll out its first cells and modules by the end of 2022 at an initial capacity of 8 GWh per year. The construction of the 14-GWh site in Thuringia was launched in 2019.

(EUR 1.0 = USD 1.025)

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