Germany's Mercedes joins with China's CATL in Hungarian battery plant
- Aug 12, 2022 1:01 pm GMT
As the first partner in the plant, Mercedes-Benz is to be supplied with the largest volume of orders from the new Hungarian plant, the German company said without providing financial details of its own investment.
In an earlier announcement to the stock exchange in Shenzen, CATL announced that it was investing the equivalent of
CATL also supplies the leading US electric vehicle maker
Mercedes-Benz announced more than a year ago that it would become involved in battery manufacture. The company is aiming at eight plants around the world by the end of the decade with a total annual capacity of 200 gigawatt hours (GWh) in battery storage.
The company is also involved in the
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