GS Yuasa Plant Inaugurated in Miskolc

GS Yuasa's first factory on the European continent is now complete. Through its EUR 28.8 million plant in Miskolc, the Japanese battery producer will supply its European automotive partners manufacturing electric vehicles (EV) with lithium-ion resources, further strengthening Hungary's position in electromobility, the Hungarian Investment Promotion Agency reports. The Hungarian government has contributed 465.3 million forints (EUR 1.39 million) in non-returnable funding towards the investment.

The Kyoto-based GS Yuasa Group celebrated its centenary in 2017. The company group is world leader in the design, manufacturing and sales of lead-acid batteries. Its partners primarily come from among key participants in the automobile and motorcycle industry. In fiscal year 2018/2019 the Japanese company group had a revenue of over HUF 1,000 billion, giving work to more than 14,000 people globally.

It has been an action of recent years, at GS Yuasa, to turn to lithium-ion (Li-ion) systems as the most advanced technological solution. Therefore, the first lithium-ion batteries outside Japan will be manufactured here in Miskolc. The positive investment decision, dating back to January 2018, was supported by the availability of the necessary workforce, the advanced infrastructure and the capital's accessibility, alongside renewable resources (primarily geothermal energy) that will be used for the plant's heating.

With its new plant GS Yuasa is joining Samsung SDI and SK Innovations in the supply of powertrains for electric cars (EV). The two South Korean battery producing companies have, since the start of their production in the country, made decisions about additional developments, thus further strengthening Hungary's position in European emobility.

Japan is the most important Asian investor for Hungary, and according to the IBM-PLI Global Location Trends 2019 report our country was the top investment destination in Europe, for Japan in 2018.