CATL, the world’s largest battery manufacturer, has announced a plan to build a giant new battery plant in Hungary to supply automakers like Mercedes-Benz and BMW.
Contemporary Amperex Technology Co. Limited, abbreviated as CATL, sort of came out of nowhere. It was founded only a decade ago and has quickly become the world’s largest battery cell manufacturer by supplying key companies in the electric revolution.
After Tesla started production in China at Gigafactory Shanghai, CATL became a supplier to Tesla and helped the automaker turn Gigafactory Shanghai into the largest electric vehicle factory in the world. In the last few years, CATL has been expanding outside of China, starting with Europe.
It started with a new battery factory in Germany and now it is expanding with a second one in Europe.
Today, CATL announced a €7.34 billion euros (~$7.4 billion USD) investment into a 100 GWh battery plant in Debrecen of east Hungary:
On August 12, 2022, Contemporary Amperex Technology Co., Limited (CATL) officially announced it will invest 7.34 billion euros to build a 100 GWh battery plant in Debrecen of east Hungary, which is also its second battery plant in Europe following its German plant. Subject to the shareholder meeting approval, construction of the first production facilities will start within this year.
Dr. Robin Zeng, founder and Chairman of CATL, commented on the announcement:
There is no doubt that our plant in Debrecen will enable us to further sharpen our competitive edge, better respond 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 green energy drive for humankind.
CATL confirmed that the new plant is going to supply European automakers including Mercedes-Benz, BMW, Stellantis and Volkswagen:
Debrecen is located at the heart of Europe, and with close proximity to some auto plants of its customers such as Mercedes-Benz, BMW, Stellantis and Volkswagen, CATL’s Debrecen plant will enable it to better cope with the battery demands of the European market, improve its global production network development, and help accelerate e-mobility and energy transition in Europe.
Construction is expected to start later this year.
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Author: Fred Lambert
Source: Electrek
