Samsung’s battery producing arm SDI will expand the capacity of its plant in Göd, central Hungary to the tune of HUF 390 billion (EUR 1.17 billion), the Hungarian Ministry of Foreign Affairs has announced.
CEO Kim Wu Chan said that in the past few years Samsung has grown into one of the world’s largest battery producers and its production facility in Göd will further its market reach, especially within the European Union. Samsung made its first investment in Hungary in 2001 into the production of monitors and has since invested over one billion euros in the country.
Hungarian minister of foreign affairs and trade, Péter Szíjjártó said Samsung SDI’s new car battery facility will put Hungary on the world map in a new way as Samsung currently has two such production plants in South Korea and the Hungarian will be the third.
He added that Hungarian economic policy has special focus on the automotive industry which employs 169,000 in the country and Hungary 18th in the world in the size of automotive exports.
Szíjjártó also said that the government has contributed a state grant to the investment “commensurate with its significance”, but could not yet reveal the amount as it was pending approval from the European Union.
Title image: Samsung SDI Hungary CEO Kim Wu Chan announces the expansion of the firm’s Göd plant (MTI/Márton Mónus)