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LG Magna e-Powertrain expands footprint with new facility in Hungary; 4th plant worldwide

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LG Magna e-Powertrain, the Joint Venture (JV) between LG Electronics (LG) and Magna (Magna) formed in 2021 ( earlier post ), announced at IAA Mobility 2023 that it is expanding its footprint with a new facility in Miskolc, Hungary. This new facility seeks to amplify the growth of LG Magna e-Powertrain in the Europe-an market.

Hungary 195
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Toray, LG Chem to establish battery separator film joint venture in Hungary

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Toray Industries and LG Chem have agreed to form a battery separator film joint venture in Hungary. LG Chem will invest US$375 million (around ¥43 billion) in Toray Industries Hungary Kft. LTHS), in which Toray and LG Chem each will hold a 50% interest.

Hungary 186
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Alstom and MOL to explore use of hydrogen technologies for rail transport in Hungary

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As part of its National Hydrogen Strategy, Hungary has been investigating the feasibility of introducing hydrogen technology to rail transportation. Alstom is a pioneer of hydrogen technology, having introduced the Coradia iLint to the German market in September 2018 ( earlier post ).

Hungary 334
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SK Innovation to build a third European battery plant in Hungary; $2.29B by 2028, 30 GWh

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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
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Schaeffler opens new dedicated e-mobility plant in Hungary; expects €2-3B in annual e-mobility orders from 2022 on

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Automotive and industrial supplier Schaeffler has opened a new production facility at its Szombathely location in the west of Hungary. The goal is sustainable mobility, and we are determined to make real progress in that direction as a key technology partner for our customers by leveraging our global network of production facilities.

Hungary 221
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Frost & Sullivan: Li-ion battery materials market to reach $51.60B by 2027 from $18.75B in 2020; 15.6% CAGR

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Frost & Sullivan projects that the global Li-ion battery materials market will reach $51.60 The advancements in battery chemistries and technologies, upsurge in electric vehicle (EV) sales, evolving regulatory scenario, and increasing consumer preferences toward EVs are expediting market growth worldwide.

Li-ion 170
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Eaton expands eMobility operations in Europe to support EV growth

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Eaton is continuing to expand and evolve its European eMobility business design capabilities, technologies and operations to support global electrified vehicle manufacturers. These upgrades will support Eaton’s efforts in delivering electric vehicle solutions to passenger car, commercial vehicle and off-highway OEMs globally.

Eaton 210