Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Chinese battery and automotive component manufacturer Shenzhen Kedali Industry decided to build a lithium battery parts plant in the town of Gödöllő. The production unit will create a total of 330 new jobs.
The envisaged investment cost is nearly €40 million. The Hungarian government provides a non-refundable subsidy of €3.5 million. An additional €1.4 million will be spent by the government to build a road that connects the site with the motorway.
The plant’s test run is expected to start in the second quarter of 2021, while full capacity is expected to be reached in 2024, with a total of ten production lines.
Shenzhen Kedali produces precision parts for batteries at seven production sites in China. With the Hungarian production plant, the firm aims to get closer to the expanding European market for electric vehicle batteries.
In 2020, in terms of the investment value, China was the largest source of FDI inflow into Hungary.
Eurofound (2020), Kedali Hungary, Business expansion in Hungary, factsheet number 102937, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102937.