PR97430

NINGDE, China, Aug. 12, 2022 /PRNewswire=KYODO JBN/ --

On August 12, 2022, Contemporary Amperex Technology Co., Limited (CATL)

officially announced it will invest 7.34 billion euros to build a 100 GWh

battery plant in Debrecen of east Hungary, which is also its second battery

plant in Europe following its German plant. Subject to the shareholder meeting

approval, construction of the first production facilities will start within

this year.

Covering an area of 221 hectares in the Southern Industrial Park of Debrecen,

the project will supply both cells and modules to European automakers.

Debrecen is located at the heart of Europe, and with close proximity to some

auto plants of its customers such as Mercedes-Benz, BMW, Stellantis and

Volkswagen, CATL's Debrecen plant will enable it to better cope with the

battery demands of the European market, improve its global production network

development, and help accelerate e-mobility and energy transition in Europe.

As part of its commitment to reducing the carbon footprint in battery

manufacturing, CATL will use electricity from renewable energies, and is

considering developing solar power with local partners in the country.

To build a sustainable and circular battery value chain, CATL is also examining

the possibility of joining forces with local partners to establish facilities

for battery materials in Europe.

"There is no doubt that our plant in Debrecen will enable us to further sharpen

our competitive edge, better respond to our European customers, and accelerate

the transition to e-mobility in Europe," said Dr. Robin Zeng, founder and

Chairman of CATL. "The greenfield project in Hungary will be a giant leap in

CATL's global expansion, and also an important step in our efforts to make an

outstanding contribution to the green energy drive for humankind."

Péter Szijjártó, Hungarian Minister of Foreign Affairs and Trade, said: "Both

the global and the European economies have been faced with tremendous

challenges recently. We in Hungary have a clear goal to be a local exception

from the continental recession. The best tool to achieve this goal is to

attract state-of-the-art investments in the most revolutionary branch of the

automotive industry, namely electromobility. We are proud that CATL decided to

execute the biggest ever greenfield investment in the history of Hungary. We

have recently become one of the leading battery production sites of the world

and with this huge investment we further strengthen our position."

The new project was well received from CATL's European customers. Markus

Schäfer, Member of the Board of Management of Mercedes-Benz Group AG, CTO

responsible for development and procurement, said: "This new state-of-the art

European CATL plant in Hungary is another milestone for the scale-up of our EV

production together with our key partners. With CATL we have a

technology-leader as our partner to provide us - as the first and biggest

customer of the new plant's initial capacity - with top-notch CO2 neutral

battery cells for our next generation EVs in Europe, hence following our

local-to-local approach in procurement. We're proud to see our Ambition 2039

supported by CATL's commitment to CO2 neutral production in Hungary."

SOURCE: Contemporary Amperex Technology Co., Limited

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