The government’s goal is for Hungary to become a European research and development (R&D) center for battery technology by 2030 and to remain among the top five players in the world battery industry, said István Joó, Government Commissioner and CEO of the Hungarian Investment Promotion Agency (HIPA), at the Hungarian Battery Week conference in Budapest.
The vehicle industry is undergoing a profound transformation and China is at the center of the electromobility revolution, the CEO said. He added: “The global penetration of Asian manufacturers is demonstrated by the fact that of the ten battery manufacturers covering 95% of the market, six are Chinese, three are South Korean and one is Japanese.”
István Joó highlighted:
Europe needs to recognize that battery manufacturing has become a strategic industry and that the future of the European automotive industry depends on its cooperation with China.”
The government has adapted in time to the two megatrends dominating the global economy: the …