According to The Paper, at the 8th International Summit on Power Battery Applications held in Shanghai, Liu Jincheng, chairman of Yiwei Lithium Energy, revealed that the company plans to invest 1 billion in Debrecen, Hungary. The construction of a battery factory in Euro (Note: currently about 7.83 billion RMB) has begun.
In May this year, EVE Lithium Energy issued an announcement stating that the company’s wholly-owned subsidiary EVE Power Hungary Korlatolt Felelossegu Tarsasag (hereinafter referred to as “EVE Hungary”) had signed a land purchase agreement with the seller to purchase the seller’s northwest industrial site in Debrecen, Hungary. The land in the area is used for the production of cylindrical power batteries.
According to reports, Everview Lithium Energy’s Hungarian factory is scheduled to be completed and put into production in 2026, and the large cylindrical batteries produced will be supplied to BMW’s Debrecen factory. In addition, the Hungarian government will provide 14 billion Hungarian forints (approximately 37.66 million euros) in subsidies for EV Lithium’s investment.
The 2023 semi-annual report shows that Yiwei Lithium Energy achieved revenue of 22.976 billion RMB in the first half of the year, a year-on-year increase of 53.93%; net profit was 2.151 billion RMB, a year-on-year increase of 58.27%.
