The South Korean company W-Scope is investing around HUF 290 billion (approx. EUR 735 million) in Nyíregyháza. This is the largest investment in Hungary so far this year and also the company’s first European plant. W-Scope will create 1,200 jobs and produce 1.2 million square meters of separator foil annually.
With a production value of HUF 9,400 billion (EUR 23.5 billion) in 2021, the automotive industry is undoubtedly the backbone of the Hungarian economy. In the first four months of this year, it has already reached a record value of HUF 3,500 billion (EUR 8.75 billion). Hungary has become a flagship of the European automotive industry and a major player in the manufacture and export of electric vehicle battery. The country has the world’s third-largest electric vehicle battery production capacity, after China and the United States. The government aims to raise electric vehicle battery production capacity from 50 GWh to 150 GWh by 2025. Hungary is the world’s fifth-largest exporter of electric batteries.