Illustration - Photo: wikipedia

Nagy meets Hungarian battery association head

Marton Nagy, the national economy minister, met in his office on Tuesday the head of the Hungarian Battery Association, according to a ministry statement that also noted how high-tech battery production for electric vehicles was a key driver of Hungary's export- and investment-oriented economy.

Hungary’s exports of batteries and battery components exceed 5 percent of GDP, putting the country among the top EU countries on this score, and battery production is expected to bring about 6,300 billion forints-worth of developments, making the country the world’s 4th largest battery producer after China, the US and Germany. Domestic production capacity is likely to reach 250 gigawatt hours, which could serve 35 percent of European needs, the statement said.

At the meeting, Nagy agreed with Peter Kaderjak that an EU electric vehicle purchase incentive scheme would be needed to boost the EU’s competitiveness and Europe’s electric car industry, it added.

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