Hungary seeks to play a bridging role between Western car manufacturers and Asian battery producers.Continue reading
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.
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.
Via MTI, Featured image: MTI/Lakatos Péter