Giga Factories and Battery Companies

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Benchmark Mineral Intelligence
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1h • 1 hour ago

Hungary is set to emerge as the leading tier 1 #battery producer in Europe this decade as the world’s top battery makers invest $13 billion to set up #gigafactories, drawn by the nation’s more affordable costs and to be closer home to key customers.

Tier 1 battery producers, including CATL and SK Innovation (SKI), are ramping up battery expansion plans in the country to meet demand from Europe’s #automakers.

The country’s battery capacity pipeline is set to grow sevenfold to reach 207 gigawatt hours (GWh) by the end of 2031, from 27.5 GWh in 2021, according to Benchmark Gigafactory Assessment. Over 175 GWh, or 86%, of this capacity is set to come from tier 1 battery producers, more than any other country in Europe.

Read our analysis on Benchmark Source: https://lnkd.in/gXdnF6DR

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This inconspicuous small country has attracted large scale investment from China, Why?