article thumbnail

SK Innovation to build a third European battery plant in Hungary; $2.29B by 2028, 30 GWh

Green Car Congress

SK Innovation will initially invest US$1.148 billion in SK Battery Hungary (SKBH) to build its third European factory in Iváncsa, Hungary, with a production capacity of 30 GWh per year. SK’s first and second European plants are also located in Hungary (Komárom); the expected third plant will be the largest.

Hungary 186
article thumbnail

T&E: two-thirds of European battery production at risk as companies weigh investing in US instead

Green Car Congress

Tesla in Berlin, Northvolt in northern Germany and Italvolt near Turin are among the projects that stand to lose the greatest volumes of their slated capacity as the companies weigh up investing in the US instead. Battery investment in the US and China continued to grow, and European companies have already signalled expansion in America.

Companies 430
article thumbnail

Europe’s Most Financed Luxury Car Brand

EV Info

Latest research from Specialist Car Finance Experts, Forza Finance , has revealed that BMW is the most popular luxury car brand to finance in 16 of Europe’s 44 countries including the UK & Ireland based on finance rather than sales or units. This help to show that BMW is more of a bank than a car company.

article thumbnail

SK On secures US$2B for battery business in Europe

Green Car Congress

The three agencies will finance SK On by providing credit guarantees and insurance as the company applies for loans in overseas commercial banks. 3 in Europe currently under construction in Iváncsa, Hungary. The three agencies that took part in the financing are all export credit agencies (ECAs). trillion (US$2.5

Europe 210
article thumbnail

VERBIO launches first cellulosic RNG plant in the USA

Green Car Congress

Further, the company helped to develop standards and regulations for RNG as well as constructed interconnection options for the site, allowing VERBIO to comply with requirements established for the sale of RNG in other states. The Group has approximately 900 employees at its locations in Germany, India, the USA, Canada, Poland, and Hungary.

USA 195
article thumbnail

China’s EV brands are coming to bury US automakers—or are they? – Charged EVs

Baua Electric

The Chinese carmakers are the first real competition that the global car industry has faced in decades, and American companies must be exposed to some of that threat, for their own good. The company now has enough production capacity in China to manufacture four million cars per year. Its cheapest models go for a little over $11,000.

article thumbnail

China’s new energy buses are re-exported to Europe

Setec Powerr

As the first bus company in Sweden, Bergkvarabuss chose BYD as its partner for the first large-scale purchase of pure electric buses, which was also the first time that BYD pure electric buses entered Skåne, Sweden. said: “I am very honored to deliver BYD pure electric buses to the first bus company in Sweden.

Europe 40