Chinese manufacturer Sunwoda Electronic plans an EV battery factory in Hungary.
According to Reuters, initial investment is CNY1.96bn (US$274.71m).
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According to a recent filing with the Shenzhen Stock Exchange, funds will be allocated to land acquisition, project construction and equipment procurement.
Sunwoda might be considered a smaller player compared to rival Chinese battery makers but customers include Xpeng, Mercedes and Guangzhou Automobile.
Chinese battery suppliers are positioning themselves in Europe, leading to a shake-up of e-mobility supply chains.
