Inzi Controls is planning to build its first European battery plant for electric vehicles in Komarom, northwestern Hungary. The South Korean company will invest HUF 14.8bn, with the Hungarian government supporting the project with HUF 1.63bn. Production is scheduled to start in early 2020. Inzi Controls will employ 122 people at the factory, which will supply batteries to brands like Audi, Continental and Volkswagen.
“Thanks to investors from East Asia, Hungary is the 17th largest exporter of batteries for electric vehicles, and further investments on their part could reinforce economic relations,” said Minister of Foreign Affairs and Trade Péter Szijjártó. “It is also thanks to this that trade flow between South Korea and Hungary increased by 45 percent last year, and almost 50 South Korean companies operating in Hungary are providing jobs to 6,000 people.”
