China’s Huayou Cobalt Sets Up $1.5 Billion Hungary Cathode Plant
- Factory is latest big-ticket Chinese investment in Hungary
- Hungary seeks to become a hub for electric vehicle production
This article is for subscribers only.
A Chinese company plans to invest $1.5 billion in a cathode factory in Hungary, the latest big-ticket investment that the government says will make the eastern European Union nation a hub for the electric car industry.
Zhejiang Huayou Cobalt Co. will set up its first European factory in Hungary, Foreign Minister Peter Szijjarto told reporters on Wednesday.