It is reported that bumchun precision will invest US $45.3 million to build a new aluminum battery terminal plant in Hungary. The new plant will mainly produce aluminum battery terminal products for electric vehicles and create 200 new jobs.
Bumchun precision mainly produces and develops components for electronic devices and mobile phones, and recently began to produce batteries for electric vehicles.
The Hungarian government has provided 8.13 million euros for this investment. The Minister of foreign affairs and Trade said the government hopes to develop Hungary into a production base in this field. The annual output value of Hungary's automobile industry is expected to exceed 30.7 billion euro next year. He said South Korea was seen as an ally because it was largely South Korean companies that made the investment and they were becoming winners in the new industrial age.
On the site selection issue, RI ki Jeon, President of bumchun precision, explained that the well-trained local labor force, highly developed urban industrial infrastructure and the geographical location can create superior logistics conditions.
