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

Green Car Congress

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. LTHS), in which Toray and LG Chem each will hold a 50% interest.

Hungary 186
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Nio to open first overseas facility in Hungary

Electric Cars Report

Chinese premium electric vehicle manufacturer Nio has announced plans to open its first overseas facility in Budapest, Hungary, in September 2022. Located in Pest in the eastern part of the city, the new 10,000 square meters facility will manufacture power products including battery-swapping stations for the European market.

Hungary 104
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BYD inks preliminary land purchase in Hungary for plant that will build EVs for Europe

Baua Electric

Two months after announcing it had selected Hungary as the desired location of its first passenger EV production facility in Europe, Build Your Dreams (BYD) has completed a preliminary sales agreement for the Hungarian land those facilities should eventually sit atop. FTC: We use income earning auto affiliate links.

Hungary 52
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BEV overtake diesels sales for the first time in Europe

Electric Cars Report

In June 2023, the EU car market grew by 17.8% Except for Hungary (-1.4%), all the EU markets grew, […] The post BEV overtake diesels sales for the first time in Europe appeared first on Electric Cars Report. to 1 million registered units, according to the European Automobile Manufacturers’ Association (ACEA) data.

Europe 75
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BYD is ‘just getting started’ in Europe with plans to triple its EV market share

Baua Electric

China’s BYD will challenge automakers in Europe with plans to triple its share in the EV market by 2025. After dominating its home market, BYD is expanding its brand overseas. BYD plans to expand EV market share in Europe BYD began selling vehicles in Europe in 2021, starting in Norway. share of Europe’s EV market.

BYD 52
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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

Green Car Congress

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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China’s BYD tops 1.6 million BEV sales in 2023

Baua Electric

Adding up sales for all so-called new energy vehicles, including battery-only vehicles and hybrids, BYD sold 3 million vehicles in 2023. BYD, the country’s dominant automaker in the world’s largest auto market, released its sales numbers yesterday. Tallying up its year-end sales, it’s a massive 62% growth from 2022.

BYD 52