Lotte aluminum will invest 110 billion won to build a battery parts factory in Hungary

       According to South Korean media reports, lette aluminum announced on the 25th that it will build an electric vehicle battery parts factory in Hungary with an investment of 110 billion won, the second overseas production base after lette aluminum Indonesia packaging materials factory. Based on aluminum production technology, Letian aluminum is engaged in the production of functional materials such as batteries, auto parts, etc. 

It is understood that many Korean battery factories choose to "stay" in Eastern Europe, including the three Korean Giants: Samsung SDI, LG Chemical and SK innovation. In order to strengthen the battery production base in Eastern Europe, Samsung SDI plans to build the second battery plant of electric vehicles in Hungary, which is located near the first plant; LG Chemical launched the Polish battery plant in the first quarter of 2018; SK innovation considered to build and expand the second plant after the completion of the first plant in Hungary. In general, it has great advantages to locate battery factories in Europe. On the one hand, BMW, Audi, Volkswagen and other vehicle enterprises are all headquartered in Germany, France and other European countries, which is convenient for direct service to vehicle enterprises. On the other hand, the battery production capacity in Europe is relatively weak, so the deployment of battery factories in Europe can take the lead in obtaining part of the market. In addition, for investment enterprises, the labor cost in Eastern Europe is relatively low, and some countries, such as Hungary, Poland and so on, also have larger preferential policies.

Lotte aluminum Hungary battery factory is expected to start operation in April this year, and put into operation in the first half of 2021. It mainly produces aluminum electrode film for electric vehicle charging batteries. This high-performance aluminum electrode film does not generate power loss during charging and discharging, and can be used for power batteries with large capacity charging and discharging repeatedly.