Samsung to build €325 million plant in Hungary to produce batteries for electric vehicles
South Korean battery producer Samsung SDI announced on Tuesday that it will build an electric car battery plant in Göd, Hungary, creating up to 600 jobs in the region.
It was reported on Tuesday that the new plant in Göd is expected to be fully operational by 2018 and produce batteries to power 50,000 electric vehicles (EVs) a year, Samsung SDI vice-president Se-Woong Jeong said in a joint press statement with Hungary's Foreign Minister Péter Szijjártó.
The investment is set to create 600 new jobs in Hungary, Szijjártó added.
The decision followed as Samsung is expecting an "explosive growth" in the sales of electric vehicles on the European continent.
(Pictured: Se-Woong Jeong, president of Samsung SDI)
