South Korean battery manufactuer in to further invest in Hungary to expand its production base in the country. Sangsin will invest EUR 29.2m to improve its base in Jászberény Hungary. Its been reported that the Hungarian government with grant 30% towards this investment.

 Sangsin will be able to greatly increase its production capacity as well as adding 150 jobs to its manufacturing plant.
The Minister of Foreign Affairs and Trade Péter Szijjártó stated Electric vehicles will be a driving sector of the post-pandemic era, Szijjártó said. The Hungarian government has supported investment in the sector, besides traditional car manufacturing, to secure its place in emerging industrial sectors, he said.

Sangsin’s expansion is the 30th similar investment in the past 5 years, and not the first to come from a South Korean company, he said. Hungary has become one of the largest battery manufacturers thanks to those investments, he said.