Samsung SDI expanding plant in Hungary

Samsung SDI is expanding its battery plant in God, near Budapest. The company will invest HUF 390bn in the project, which is expected to add 1,200 new jobs to the local labor market. The company has two facilities in Asia and one in Hungary. “The state is providing non-returnable funding towards the investment project, the sum of which cannot be made public as yet. However, in view of the fact that it must still be authorized by the European Commission. The sum is in harmony with the size of the investment and is significant,” said Peter Szijjarto, minister of foreign affairs and trade. “The investment also means that it has been decided that in the new automotive industry era Hungary will be one of the bastions of European car production”, the Minister said, adding: “Göd has also made its way onto the world map of the new automotive industry era thanks to previous investments on the part of Samsung SDI.”