Hungary’s thriving automotive sector has drawn another major investment. Slovenia’s Andrada Group plans a cutting-edge battery recycling plant in Alsózsolca, their most substantial Hungarian investment, at HUF 10 billion (EUR 26.2 million), revealed Péter Szijjártó, Foreign Affairs and Trade Minister.
The facility will revolutionize battery recycling, ensuring green operations. Meeting standards four times stricter than Hungary’s, the technology, birthed in Slovenia, adopts a circular battery production method for optimal waste protection. Set to recycle 10,000 tonnes of batteries yearly, Hungary’s government supports this with a HUF 4.7 billion (EUR 12.3 million) grant, anticipating 200 regional jobs.
Szijjártó spotlighted Hungary’s leadership in the electric vehicle transition, noting the 17-20% of global emissions from road transport. Hungary’s automotive prominence rises, soon becoming the second-largest electric battery producer, thanks to investments like China’s Eve Power and Sunwoda. Additionally, BYD is investing HUF 10 billion in a nearby Budapest plant.
With a 31% growth, Hungary’s automotive output was HUF 12,000 billion (EUR 32.3 billion) last year, exporting to 173 countries.