Doosan reinforces European Battery production

The capacity of the facility will be sufficient for covering the European demand for years, a press release from HIPA (Hungarian Investment Promotion Agency) states. With their investment in Hungary, Doosan aims to reinforce its electronics branch, which currently operates in 7 countries and employs some 2'000 people. Its most important customers include Apple, Cisco, Facebook, Huawei, Intel, Nokia, Samsung and SK Innovation. Over the past few years, three Asian battery manufacturers - the South-Korean Samsung SDI and SK Innovation, as well as the Japanese GS Yuasa - all chose Hungary as the base for their European manufacturing hubs. Due to these decisions, several other companies (engaged in the EV industry) also chose Hungary as a manufacturing base; among others, Infineon, INZI Controls and the Toray Group.. During the last decade, Hungary was able to establish tight economic relations with South-Korea. The Asian country is the biggest investor in Hungary in 1H/2019. Furthermore, two South-Korean companies (Hankook and Samsung) already are strategic partners of the Hungarian government.