The battery industry supplier has inaugurated its new cellulose plant in Vácrátót. The Japanese company is producing the cellulose product CMC on a 43,000 square meters site near Budapest, which is used in the batteries of electric vehicles. CMC extends the lifespan of batteries, making it suitable for use in mobile phones as well.
Nippon Paper Chemicals Europe invested approximately HUF 15 billion (EUR 37 million), while the government supported the development with HUF 2.3 billion (EUR 5.6 million) to create 60 new jobs.
Nippon Paper also sees Hungary as a springboard for establishing new partnerships in the European electric vehicle market.