Chinese battery manufacturer CATL plans to start production at its new plant in Debrecen, Hungary, at the end of this year or early 2026, said the company’s European general manager, Matt Shen.
The investment in the project amounts to €7.3 billion ($8.55 billion). The plant will supply batteries to automakers such as BMW, Stellantis, and Volkswagen. Its annual production capacity will reach 100 GWh, with around 9,000 employees, making it larger than CATL’s current plant in Thuringia, Germany.
The company had initially planned to start production in 2025, but the timeline has shifted. Despite concerns about slowing demand for electric vehicles in Europe, Shen stated: “There are always some fluctuations, but there is no doubt about the overall trend.”
According to SNE Research, in 2024 CATL increased its share of the global electric vehicle battery market to 38% (up from 36% a year earlier). In May, the company raised $4.6 billion during its debut on the Hong Kong Stock Exchange, part of which was allocated to finance the Hungarian plant.