China’s CATL to make largest investment ever in history of Hungary

News Snapshot:

A Chinese company is set to invest 7.34 billion euros (7.6 billion U.S. dollars) in building a plant to manufacture batteries for carmakers in Hungary. The investment by Contemporary Amperex Technology Co., Limited (CATL) is the largest ever in the history of Hungary, according to the country's Minister of Foreign Affairs and Trade Peter Szijjarto. "We are proud that CATL decided to execute the biggest ever greenfield investment in the history of Hungary," said the Minister on his Facebook page on Friday. CATL said in a statement that it will build the 100 GWh battery plant in Debrecen, in the...