Hungary will not give up its position as the meeting point of investments from East and West, Foreign Minister Péter Szijjártó said on Tuesday, adding that despite “attempts to abuse people’s uncertainties”, it was important to understand that all battery plants built in Hungary adhered to strict regulations.
Szijjártó told a conference on the vehicle industry organised by the Hungarian Investment Promotion Agency (HIPA) that out of the world’s ten electric battery makers that cover around 95 percent of the global market, six are Chinese, three are South Korean, one is Japanese, and none are European. It is clear that “the East has taken over this industry”, he added. For the first time in European economic history, large western European companies operating in a field that has a basic influence on the success of the European economy are nearly 100 percent dependent on suppliers from the East, he said. This situation is difficult to accept, which might explain why the representatives of “large and strong” member states at European Union foreign affairs council meetings “beat on the table, not only in a symbolic sense”, demanding to reduce the economic influence of Chinese companies on the continent.
Meeting point of East and West
“At the same time, when I meet large western European company leaders, they regularly ask me to convince suppliers from the East to come to Hungary,” he added. Szijjártó said that outside of Germany and China, it was only in Hungary that all three premium carmakers from Germany have factories. Additionally, three of the world’s ten largest electric battery makers are present and a new investment will be announced soon, so the number will increase, he added. Commenting on the attacks against electromobility investments, he said that the construction of new plants always triggered a sense of uncertainty in local communities.
“While it’s easy to abuse people’s natural concerns for health in their living environment, we must still ask all political players to act responsibly and not mislead people and not to abuse people’s legitimate concerns,” he said. He underlined the government’s intention to continue supporting investments required for electromobility, “because these can keep the economy on a growth track”.
Hungary embarks on new era in energy, hydrogen economy
Hungary has embarked on a new era in its energy and hydrogen economy, Csaba Lantos, the energy minister, said on Tuesday at the inauguration of Hungary’s first hydrogen production plant. Speaking in Kardoskut, in southern Hungary, Lantos said the plant was the first rung on the ladder of Hungary’s hydrogen industry and a further step towards reducing its energy dependence, with the possibility of storing renewable energy.
A 2.5 megawatt electrolysis system and hydrogen gas preparation technology will operate at the Kardoskút underground gas storage facility, Kriston Ákos, chief executive of Magyar Földgáztároló, said. Excess current generated by renewable energy sources such as solar can be stored in the hundreds of megawatts in the form of hydrogen for a period of several months, and can be returned to the grid as needed, he said. The R and D project cost 5.6 billion forints (EUR 15m), and the state provided support of 2.5 billion.
Once Hungary becomes dependent on trade with China the Chinese government will engage in manipulation of Hungarian politics and society and will use both veiled and direct threats to the government should Hungary try to stop it. It happened in Australia as soon as the Australian government called for a transparent investigation of the origin of Covid in China. China severely cut imports from Australia. It’s happening right now in Canada when the Chinese were caught exerting influence on Canadian members of parliament. The proposed Chinese operated university in Budapest would be a huge foot in the door to Chinese influence in Hungary creating ties of influence with hundreds of students. The authoritarian Chinese government is very methodical in gaining global influence coming in with smiles that turn into fangs once you become dependent on them. Orban will lead you right into their gaping jaw.
@Larry, so just like the US then? Honestly, all the superpowers suck as they all do the things you mentioned in your comment. The good thing with the Chinese government is that at least they didn’t invade any foreign country in the past 50 years.
Realist- you are so right- except the authoritarian ( communist) broke the treaty on Hong Kong – the worlds most successful place on planet and is the basis for everything that is the CCP today except for the communist part.. the US once greatest universities are Marxist indoctrination camps. The Biden center at the U Delaware we’re all his corrupt secret are sealed is funded by the CCP.
Hungary could only dream of that kind of money and influence.- the only hope is to end the CCP in China or you wil have your pat sealed close when the release the next Bat shutdown.— the good thing is the Orban goverment is focused on hungary and its people and culture – Soros alone could have bought them off a long time ago.