Workers work on a power battery production line at a battery production company in Hefei Economic and Technological Development Area in Hefei, east China's Anhui Province, July 29, 2022. (Xinhua/Liu Junxi)
BEIJING, Aug.10 (Xinhua) -- China's battery maker Sunwoda announced to open a new power battery factory for electric vehicles with a total investment of 1.9 billion yuan(around 2.64 billion U.S. dollars) in Hungary, reported China Securities Journal Thursday.
The new plant, as Sunwoda's first plant in Europe and also the third overseas factory, marks a new step in the company's globalization strategy.
The project is to further improve the company's business layout and enhance its global presence, which is of great significance in promoting the company's long-term stable development.
Sunwoda was founded in 1997 and is based in Shenzhen. It has several operations throughout China, and is present in countries including India, Israel, Japan, the U.S.and Vietnam.
(Edited by Bao Nuomin with Xinhua Silk Road, baonuomin@xinhua.org)
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