Shanghai (ZXZC)- EVE Power Co., Ltd., a subsidiary of Chinese battery maker EVE Energy, on May 9 announced the plan to build a battery factory in Debrecen, Hungary, to supply German carmaker BMW's plant in the country with its cylindrical power batteries, according to a post on EVE Energy’s WeChat account.

Photo credit: EVE Energy

The new factory is located in the Northwest Economic Zone of Debrecen, covering an area of 450,000 square meters. It will mainly produce large cylindrical batteries with an investment of about $1.18 billion to be involved. The project is set to be completed in 2026, aiming to offer 1,000 jobs to local residents.

EVE Energy said the 46 large cylindrical battery to be produced at the factory in Hungary features high energy density, small size, and lightweight, with the potential to increase both range and fast-charging capability by 30%. Additionally, the factory is committed to digitalized manufacturing, utilizing artificial intelligence systems and digital platforms to ensure the production of high-quality large cylindrical batteries.

Alexander Holden, senior vice president of EVE Power, revealed that the Chinese company will also promote exchanges and cooperation with local technical and engineering colleges to jointly explore battery manufacturing technologies, and become a trustworthy and reliable technology partner.