Anticipated commencement of battery production by CATL in Hungary slated for early 2026
Chinese Battery Maker CATL Expands European Presence with New Hungarian Plant
Chinese battery maker CATL is set to expand its European operations with a new plant in Hungary, which is expected to begin production by early 2026. This move comes as the company continues to dominate the global EV battery market, with a 38% share in 2024, up from 36% the previous year.
The new plant, located in the eastern city of Debrecen, will have an annual production capacity of 100 gigawatt-hours and employ a workforce of 9,000 people. CATL raised $4.6 billion through its Hong Kong stock exchange debut in May, which helped fund the Hungarian project. The company has invested 7.3 billion euros in the facility.
CATL's existing European battery production facility is in the German state of Thuringia. The company is one of the Chinese players attending the IAA Mobility car show in Munich this year, indicating a growing presence in Europe.
Speaking about the demand for EVs in Europe, Shen, a representative of CATL, said, "The market for electric vehicles in Europe is growing rapidly, and we see great potential for our business here."
The new plant in Hungary is intended to expand battery production for automakers such as BMW, Stellantis, and Volkswagen. CATL's European headquarters operate under the name Contemporary Amperex Technology Thuringia GmbH (CATT) in Arnstadt, Germany.
Initially, the plan for the plant was to launch production by the end of 2025, but it has been delayed to early 2026. At the current exchange rate of $1 = 0.8535 euros, the total investment in the Hungarian plant amounts to approximately $8.6 billion.
This update on CATL's Hungarian project comes as the global EV battery market continues to grow, driven by increasing demand for electric vehicles worldwide.
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