Chinese Electronic Vehicle Firm Appears in Hungary

China-based NIO automotive manufacturer has chosen Biatorbágy, just southwest of Budapest, as location for its first European manufacturing plant. The implementation of the investment worth a total amount of over EUR 15 million and creating several hundred new jobs will allow the manufacturing of so-called 'NIO Power Swap Station' automatic battery pack swap stations in Europe. Over 30% of the investment cost is covered by Hungarian taxpayers through a government decision.

NIO Power Europe Ltd. envisages to realize the manufacturing of the swap stations in its manufacturing hall of approx. 10,000 square meters and the company will export them to each European market where it distributes its electronic vehicles.

The essence of the operation of the container-size mechanism is that after the vehicle drives in it, the system replaces the battery packs that have gone dead with same types of charged battery packs in the framework of a completely automated process. This operation takes only a few minutes, as opposed to the traditional technology of electric charging points.

The strategy of the Group designing and developing high-performance smart electric vehicles is aimed at expanding the sales of their premium-category electric vehicles in the Continent and building out the manufacturing capacities for producing closely related products, such as battery pack swap stations and charging stations. Hungary is given a central role in this process, the Hungarian Investment Promotion Agency reports.