KOTRA Holds 'Europe Central and Eastern Battery Plaza' in Hungary
30 Korean Battery-Related Companies Participate, Assess Local Investment Environment
[Asia Economy Reporter Park Sun-mi] KOTRA announced on the 28th that it held the ‘Europe Central and Eastern Battery Plaza’ in Budapest, Hungary, to quickly respond to the demands of the European electric vehicle market and establish a K-battery base.
The event, held over two days on the 26th and 27th, was attended by 30 Korean battery-related companies that have entered or are interested in entering the Hungarian market. On the first day, our participating companies in the battery materials (cathode, anode, battery foil, etc.) and parts manufacturing sectors visited the local P?tf and P?ty industrial complexes with the Hungarian Investment Promotion Agency (HIPA). The delegation inspected factory sites and facilities and reviewed investment possibilities while receiving guidance from HIPA officials.
At the battery conference held on the following day, speakers from key electric vehicle institutions such as HIPA, the Hungarian Battery Association (HUBA), and the Hungarian E-Mobility Cluster (JAK) participated, emphasizing their willingness to cooperate with Korean battery companies and presenting response strategies to changes in the Central and Eastern European battery industry.
Hungary is a traditional production base for global automakers such as BMW and Mercedes-Benz. Recently, due to the increase in European electric vehicle demand and the Hungarian government’s investment incentive (subsidy) policies, automakers are expanding production investments, and accordingly, battery companies are rapidly gathering to strengthen their position as the ‘battery production base of Europe.’
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Lee Gil-beom, head of KOTRA’s Europe Regional Headquarters, emphasized the importance of Hungary, which is emerging as the center of the European battery industry, stating, “We plan to promote regional-level consultation meetings within this year so that our battery companies can target the European electric vehicle and energy markets.”
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