Hungary joins the race for €250 billion worth EU battery market

Hungary takes the lead in Central Eastern Europe to join the European Battery industry’s goals to secure a successful green transition within the automotive and energy sector with a strong battery industry in order to achieve the national as well as the European climate-goals, EIT Innoenergy reports.

The Hungarian Ministry of Innovation and Technology in cooperation with EIT InnoEnergy has launched a sector-wide consultation to develop a national strategy for the Hungarian battery industry, to drive economic development and growth, while ensuring the successful green transition of the Hungarian energy and mobility industries. The Hungarian National Battery Strategy will be completed at the beginning of 2021 according to plans.

As the future of transport is electric, the availability of the highest quality energy storage is a prerequisite for the development of the energy industry to secure the successful transition of the automotive sector. Besides the spectacular growth of the battery industry worldwide, the fundamental goal is to support the European efforts towards net zero emissions by 2050. Under the Effort Sharing Regulation (ESR), Hungary’s 2030 target for greenhouse gas (GHG) emissions is 7% points lower than the 2005 levels.

The newly initiated Hungarian Battery Strategy will enable Hungary, together with local and international industry partners, authorities, the academic and financial sectors to become an integral part of the European supply chain and the European Battery Alliance (EBA). The project is aligned with the European Battery Strategy, initiated by the European Commission in 2017 which was followed by the establishment of the EBA, of which the industrial development program is coordinated by EIT InnoEnergy.

“The goal of our common work is to develop a strategy for the battery industry that can  create opportunities for Hungarian companies, that can create employment, and one that is able to drive more innovation in the region. Our work will support the Hungarian economy’s growth and development while facilitating its integration to the European supply chain.” – said Dr. Peter Kaderjak, State Secretary for Energy and Climate Policy, Ministry of Innovation &Technology.

“The development of the CEE region is critical in ensuring the green transition of Europe. In order to create a more sustainable world with cleaner vehicles, our goal is to engage the region in contributing to a competitive and advanced battery value chain in Europe.” – commented Diego Pavía, CEO of EIT InnoEnergy

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