Sunwoda has plans for Hungary

Already an established player

Luke Martin July 27 2023

Chinese manufacturer Sunwoda Electronic plans an EV battery factory in Hungary.

According to Reuters, initial investment is CNY1.96bn (US$274.71m).

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.

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