Chinese EV battery giant CATL starts trial production at Hungarian factory
Contemporary Amperex Technology Ltd (CATL) has cleared all regulatory hurdles for its mega factory in Hungary, a development that analysts expect will help the world’s largest producer of electric vehicle (EV) batteries extend its reach to international marques like BMW and Volkswagen. Production of battery cells at the €7.3 billion (US$8.35 billion) plant in Debrecen, the second-largest city in…
Chinese battery giant CATL has begun trial production at its €7.3 billion factory in Debrecen, Hungary, marking a significant step in the world's largest EV battery producer's international expansion. The €7.3 billion plant, which is twice the size of the original plan, boasts a production capacity of 100 gigawatt-hours of batteries annually, enough to power 2 million electric vehicles with a 500km driving range each.
CATL has secured all necessary regulatory approvals and resolved local concerns about environmental and health risks, allowing the trial run to commence. The Hungarian plant's strategic importance lies in its ability to secure large orders from global carmakers like BMW and Volkswagen. The production base has already developed two battery packs tailored for European clients, with one offering 758km of range and the other enabling fast charging to a 478km range.
CATL's global sales surged by 54.8% year-on-year to 87.1 billion yuan in the first half of the year, accounting for 31% of its total revenue. However, Hong Kong-listed shares of CATL have dropped significantly due to increased competition from domestic EV manufacturers in China.
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