Shanghai-based SEMCORP-Shanghai Energy New Materials Technology Co., Ltd., which makes separators for electric vehicle batteries, will set up a HUF 65.5 billion (EUR 180 million) plant in Debrecen, Hungary, Minister of Foreign Affairs and Trade Péter Szijjártó told Budapest Business Journal.
The Hungarian government is supporting the construction of the lithium battery separators plant, which will create 440 jobs, with a HUF 13 bln grant, Szijjártó said. The 100,000 sqm plant will be Semcorpʼs first outside of China, he added.
The Minister said Semcorp had picked Hungary over three other European countries competing to become the site for the new plant.
The investment will bring total Chinese foreign direct investment in Hungary to more than USD 5 bln. Chinese-owned companies employ more than 15,000 people in Hungary.