Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com August 9 news, Xinwanda Electronics Co., Ltd. announced today that in order to further deepen the company's global strategic layout, Xinwanda subsidiary Xinwanda Power Technology Co., Ltd. through its subsidiary Hungary Xinwanda Power Technology Co., Ltd. has invested about 1.9 billion yuan in Hungary to build the first phase of a power battery factory for new energy vehicles. Mainly engaged in lithium-ion battery, power battery system manufacturing and sales and other business.

According to reports, the Hungarian project is Xinwanda's first self-owned production base in Europe and the third overseas factory after Xinwanda opened a global layout in New Delhi, India in 2017.

Xinwanda said that Hungary has become the preferred place for Xinwanda's own factories in Europe, mainly based on the long history of the Hungarian automobile industry, the gathering of a large number of vehicle enterprises, and its pivotal position in central Europe. it is convenient for Xinwanda to respond quickly to customer needs and complete localized production.

Secondly, in 2022, the EU agreed on a plan to achieve zero carbon dioxide emissions from all passenger cars and light commercial vehicles in the EU market from 2035. Hungary responded positively and actively promoted the transformation of the automobile manufacturing industry to electrification. In addition, the deepening economic and trade relations between China and Hungary in recent years have provided a natural investment environment for the construction of Xinwanda's Hungarian factory.

CTOnews.com previously reported that Ningde Times, the world's largest battery maker, is also building a 7.3 billion euro battery factory in Hungary after setting up its first European production base in Germany. Yiwei LiNeng also announced in June that it would invest 9.97 billion yuan to build a factory in Hungary to produce large cylindrical batteries.

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