South Korea’s W-Scope will build a battery separator film plant in eastern Hungary to respond to the explosive growth of the lithium-ion battery (LIB) market.
The €720 million project creating 1,200 jobs is the largest investment so far announced this year in the country. The company’s first European plant will turn out 1.2bn sqm of separator film a year. It will be the world’s largest high-speed facility for both bare film lines and coating lines.
Hungary has the third-biggest electric battery production capacity in the world, after China and the United States. The capacity will triple from 50 GWh a year to 150 GWh by 2025", Minister of Foreign Affairs and Trade Peter Szijjarto said at the ceremony.
W-Scope's investment further strengthens Hungary's position in the global EV race.
The government has sought to attract the world's leading EV battery producers and suppliers to diversify dependence on traditional vehicle manufacturing.
Two of the three largest South Korean EV makers are already present and are expanding production to meet soaring demand. Hungary’s proximity to European markets makes it an attractive investment destination.
SK Innovation is developing a 135-hectare complex, the company's largest European unit and the largest greenfield investment in central Hungary. Samsung is the second-largest producer of EV batteries in Hungary. It revamped its former TV screen factory television plant from €280mn in 2016. In 2019, it has expanded the plant from a €1.2bn investment.