We will ensure Hungary’s competitiveness with the large battery factories for decades
2023. 02. 13.
Hungary’s investment promotion framework will change, and the cost elements related to the production of renewable energy could be accounted for up to 50% of the investment volume – noted István Joó in an interview with Portfolio, after going on to say that the electric transition in the vehicle industry is unstoppable. The CEO of HIPA also stated that the views of local residents regarding battery factories must be listened to, and as he said, the investments will be implemented in compliance with the strictest environmental protection standards.
In the interview, István Joó spoke, among other things, about the changes in the system of individual government decisions. In regard to the details, he said that the cost elements related to the production of renewable energy could be accounted for up to 50% of the investment volume, and the system of guarantee conditions will also be modified, the collateral required for the investment will be reduced from the previously expected 120% to 100%. In addition, the scope of potential applicants for R+D type support will be expanded, so that even medium-sized enterprises will be able to apply in the future.
During the conversation, he also mentioned changes in the vehicle industry.
– said the CEO of HIPA emphasizing the pace of the changes in the sector. As he said, battery production is also essential for electric vehicles, and there is extremely fierce competition for these capacities. István Joó also highlighted the fact that these factories create valuable jobs, and in addition, many suppliers will participate in these plants, which also strengthens the position of Hungarian companies.
– stated the CEO of HIPA, who also pointed out that the investments will be implemented in compliance with the strictest environmental protection standards. HIPA does everything to ensure that the industry structure of investments is as diverse as possible. As a result, in recent years, in addition to vehicle manufacturing and electronics, numerous investments have also been made in Hungary in the food industry, pharmaceutical manufacturing, and even in business services. István Joó added: mainly thanks to CATL’s factory in Debrecen, investment promotion in Hungary will set another record this year.
