Hungary joining EUR 250 bn European battery market

Hungary is joining Europe’s battery industry with a view to advancing the transition to green transport, vehicle manufacturing and energy, the innovation and technology ministry (ITM) said on Wednesday.

The ministry, in cooperation with EU-supported EIT InnoEnergy, has launched consultations in the sector with the aim of drawing up a national battery strategy by the end of the year.

The ITM statement said Hungary must pay heed to large-scale trends so as to sustain its domestic automotive industry and international competitiveness in the long run. Top quality energy storage is key to this goal, it added.

Noting Europe’s aim to achieve net zero emissions by 2050,

the ministry said Hungary has undertaken to cut greenhouse gas emissions by 40 percent by 2030 compared with 1990 levels.

Péter Kaderják, ITM state secretary for energy and climate policy, said the cooperation EIT InnoEnergy would help boost Hungarian economic growth and embed the country deeper into Europe’s supply chain.

Diego Pavia, CEO of EIT InnoEnergy, said

developments in central Europe would play a key role in greening Europe’s energy sector.

The action plan will involve enterprises and the authorities, as well as representatives of science and finance, in workshops and consultations, the statement said, adding that Hungary’s battery strategy will enable it to form an integral part of the European Battery Association through the expansion of international cooperation.

• Europe’s largest rooftop solar park inaugurated at Audi Hungaria’s logistics center in Győr

Read alsoShanghai-based Semcorp to set up a EUR 182.6m plant in Debrecen

Source: MTI