Building battery plants in Budapest to require residents’ approval

The Budapest assembly passed a position on Wednesday regarding the construction of battery plants, namely that the city’s residents must be consulted before any plans are made to build battery plants or assembly lines within the administrative boundaries of Budapest.

The body approved a joint proposal by group leaders of the opposition Democratic Coalition, Socialists, Momentum and Párbeszéd. The proposal was approved by 17 votes in favour, with representatives of ruling Fidesz-KDNP and independents abstaining from the vote.

Economic minister meets Magyar Suzuki CEO

Márton Nagy, the minister of economic development, held talks with Magyar Suzuki CEO Masato Atsumi in his office on Monday, the economic development ministry said in a statement. The meeting centred on Suzuki’s role in the Hungarian economy and current economic trends, the statement said.

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Nagy, highlighting Magyar Suzuki’s role in the region, said the company which has had a presence in Hungary since 1991 could now produce technology required for hybrid vehicles. Magyar Suzuki is among the companies in Hungary with the largest sales revenues, Nagy said, noting that it is able to export to more than 120 countries on five continents, and employs close to 3,000 people.

Hungary has an investment and export-driven economic strategy, the minister said, underscoring the importance of preserving the economy’s ability to attract capital. To ensure this, a new industrial strategy is being prepared, in which the domestic vehicle industry will play a prominent role, he said

Nagy said Japan was the seventh largest investor in Hungary in 2020, adding that one-third of FDI in 2021 had come from Asia. The sides agreed to continue consultations in the interest of promoting developments, the statement said.

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Source: MTI