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Transition to Electromobility Cannot be Successful without Germany, Says Economy Minister

MTI-Hungary Today 2024.11.07.
A BYD Seal electric car at the opening of the Hungarian Battery Week conference E-Mobility Day at Hungexpo Budapest Congress and Exhibition Center.

The transition to electromobility and the improvement of European competitiveness cannot be successful without the growth of the German economy, said Minister for National Economy Márton Nagy on the second day of the Hungary Battery Week conference in Budapest on Thursday.

The Minister noted that the German finance minister’s departure, announced on Wednesday evening, was an admission that the Berlin government’s strict fiscal approach had overshadowed economic development goals.

He said

the change had increased the chances of more resources being allocated to electromobility, infrastructure development, and public vehicle purchase programs.

Minister for National Economy Márton Nagy speaking at the opening of E-Mobility Day at the Hungarian Battery Week conference. Photo: MTI/Lakatos Péter

Márton Nagy also pointed out that he expected bilateral relations to improve after the U.S. presidential election. He added that the chances of an end to the Ukraine war have also increased, thus families’ spending caution may ease, which is good news for the Hungarian economy as it could boost household consumption and business investment.

Fact

Hungarian Battery Week, organized by the Hungarian Battery Association, takes place in Budapest between November 6-8, with the aim to connect industry leaders, top battery manufacturers and experts in the heart of Europe. The event is therefore attended by the most important representatives of the industry. A main objective of Budapest Battery Week is to provide a public forum to discuss professional issues related to the improvement of the battery and electromobility sector in Hungary and Europe. On the second day of the three-day conference, participants discuss electromobility.

As reported by Hungary Today, on the first day of the event, CATL, a Chinese battery manufacturer, revealed that its newly built factory in Debrecen (eastern Hungary) is scheduled to start production in 2025.

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Via MTI, Featured image: MTI/Lakatos Péter


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