According to the reports, Bumchun Precision will invest $45.3 million in building new aluminum battery factory in Hungary. The factory will mainly manufacture battery terminal product for electric vehicle, bringing 200 jobs at the same time.
Bumchun Precision mainly produces and develops electric devices and components of mobile phone, and it starts to produce batteries for electric vehicles in the recent times.
The government of Hungary funded 8.13 million euros in this investment , minister of foreign affairs and trade said that the government hopes Hungary to become the production base in this field. It is estimated that the output value of the Hungary automobile is excepted to exceed 30.7 billion euros next year. The minister indicates that he considers Korea as ally, because to a large extent , it were those Korea factories that contributed to this investment, and they are becoming the winners in the new industry generation.
Ri KI Jeon, the president of Bumchun Precision company, explained on the issue of location selection that the local workforce is well trained, the urban industrial infrastructure is highly developmented. And its location will create superior logistic conditions.