Hungary – Construction of EcoPro BM battery cathode material plant on Schedule.
The ground-breaking ceremony of EcoPro BM’s cathode material plant in Debrecen indicates that the EUR 728 million project of the South Korean company is going to plan. The investment will allow the manufacturing of 108,000 tonnes cathode material for lithium-ion batteries on a yearly basis, and 631 jobs will be created.
Announced in December 2021, EcoPro BM’s investment is the largest one after BMW’s iFactory, which is now under construction, and CATL’s future gigafactory in Debrecen, and due to its scale it is expected to significantly contribute to the development of the local EV ecosystem.
The Korean company pioneered the production of nickel-based cathode in its homeland and aims to propel Korea to become a global battery super power. Its first European plant in Hungary serves this purpose as well.
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The Debrecen plant broke ground after all necessary permits had been granted and related preparatory works had started.
South Korea brought the most FDI to Hungary in 2019, 2021 and 2022, and by now it forms the 4th largest investor community. The activity of Korean investors is further showcased by the fact that a total of 49 related HIPA-guided deals were closed over the 9 years between 2014-2022. These projects, the bulk of which being e-mobility related, account for a total investment volume of 9.8 billion euros and nearly 15,000 new jobs for the Hungarian economy.
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Construction of EcoPro BM’s Cathod Material Plant On Schedule, April 21, 2023
