In Hungary’s second-largest city Debrecen, workers are putting the finishing touches to a vast battery factory built by China’s CATL to supply BMW, Mercedes and other European car brands.
The mile-long plant is part of a wave of Chinese investment that mushroomed across central and eastern Europe immediately after the Covid-19 pandemic, focused on building battery and electric vehicle factories.
But nearly three years after CATL announced the €7.3bn “greenfield” project, weaker than expected EV demand in Europe is forcing a review of its size.
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