Dongwha to establish two units in Hungary
The South Korean company is making its moves to be a part of the European electric vehicle eco-system by establishing two units in Sóskút, just southwest of Budapest; one for producing electrolyte and another to recycle the solvent NMP, a compound used heavily in lithium ion battery fabrication.
Dongwha is investing EUR 32.1 million to set up both units, which are closely linked to the EV- battery manufacturing supply chain. The investment will see the creation of 90 new jobs, which will mainly be engineering positions, according to a report from HIPA, the Hungarian Investment Promotion Agency. The South Korean company was founded back in 1948, and initially it was completely focused on wood-based products. Today, however, the company has many legs to stand on, including the production of chemicals as a new key sector. Dongwha Electrolyte manufactures electrolyte-based lithium ion batteries – its products are primarily used in portable electronic devices. The two units to be built in Sóskút will, as stated earlier, create 90 new jobs within the Dongwha Electrolyte division. The electrolyte producing plant, which once complete will boast 5’400 square metres of operational space, will supply Hungary and the region's battery manufacturers with electrolyte, whereas the NMP recycling unit, which will be occupying an area of 7’200 square metres, will contribute to sustainability in battery manufacturing.