Chinese lithium battery maker Eve Energy will build a power battery factory in Hungary, possibly in preparation for its supply to BMW.
Eve Energy. a subsidiary of EVE Power Hungary, signed an agreement on May 9 with Debreceni, a subsidiary of Hungary’s Debrecen government, to buy land owned by the latter in the city’s northwest industrial zone for the production of cylindrical power cells, according to a Shenzhen stock exchange announcement yesterday.
The land covers 45 hectares and the purchase price is 22.5 euros per square meter plus VAT, for a total price of about 12.86 million euros ($14.1 million), according to the announcement. The deal will meet the company’s need for production land for future growth and further scale up production capacity for power and energy storage batteries, Eve Energy said.
Eve Energy’s announcement provided no further information, though the move appears to be in preparation for supplying BMW.