Chinese EVE Power to invest one billion euros in battery plant in Hungary

Chinese battery manufacturer EVE Power will build a plant in Hungary to produce batteries for electric vehicles, at a cost of one billion euros (CZK 23.4 billion). Hungarian Foreign Minister Péter Szijjártó announced this today. The plant in Debrecen, in eastern Hungary, will be the Chinese company’s first European factory and is expected to meet demand for lithium batteries for electric vehicles made by German automaker BMW at a nearby plant that is currently under construction.

The plant is expected to create around 1,000 jobs. The state will provide 14 billion forints (more than CZK 880 million) in support for the investment, Szijjártó added.

BMW began construction of its plant in Debrecen last year, and it is expected to start operations by the end of 2025, Reuters reported. The company plans to invest two billion euros there and produce up to 150,000 vehicles a year.

According to its website, EVE Power was founded in 2012 and is a subsidiary of EVE Energy, a leading provider of key technologies and comprehensive battery solutions. EVE Power focuses on batteries for vehicles, construction machinery and electric boats.