China’s Huayou Cobalt Sets Up $1.5 Billion Hungary Cathode Plant

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Zhejiang Huayou Cobalt Co. will set up its first European factory in Hungary

(Bloomberg) — A Chinese company plans to invest $1.5 billion in a cathode factory in Hungary, the latest big-ticket investment that the government says will make the eastern European Union nation a hub for the electric car industry.

Zhejiang Huayou Cobalt Co. will set up its first European factory in Hungary, Foreign Minister Peter Szijjarto told reporters Wednesday.

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