Anticipated commencement of production by Chinese battery manufacturer, CATL, in Hungary, slated for early 2026.
Chinese Battery Maker CATL to Launch Production at Hungarian Plant in Early 2026
Chinese battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) has announced plans to start production at its new plant in Debrecen, Hungary, from early next year. Matt Shen, CATL's General Manager for Europe, made the announcement at the IAA Mobility car show in Munich this year.
The new plant, which will employ a workforce of 9,000, is expected to dwarf CATL's existing European battery production facility in the German state of Thuringia. It will have an annual production capacity of 100 gigawatt-hours, a significant increase from the company's current capacity.
CATL invested 7.3 billion euros in the Hungarian plant, a substantial investment that reflects the company's commitment to the European stock market. The company's share in the global EV battery market has grown to 38% in 2024, up from 36% a year earlier, indicating its growing dominance in the sector.
Despite some fluctuations in demand for electric vehicles (EVs) in Europe, Shen expressed no concerns and acknowledged the overall trend towards electric vehicles. He stated, "There is no doubt about the overall trend towards electric vehicles."
The delay in the start of production at the Hungarian plant, initially hoped to launch by the end of 2025, is not new information. Shen, however, clarified that production at Decrecen will start "at the end of this year or beginning of the next year."
CATL's debut on the Hong Kong stock exchange in May 2021 raised $4.6 billion, a significant funding boost for the company's expansion plans. The company is attending the IAA Mobility car show this year, further demonstrating its commitment to the automotive industry.
The exchange rate of $1 to euros is currently 0.8535, but this is not a fact about CATL or the battery market. Nonetheless, the company's investment in the Hungarian plant and its growing market share suggest a positive outlook for the battery industry in Europe.
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