Connected Car
Chinese manufacturer Sunwoda Electronic plans an EV battery factory in Hungary. According to Reuters, initial investment is CNY1.96bn (US$274.71m). According to a recent filing with the Shenzhen Stock Exchange, funds will be allocated to land acquisition, project construction and equipment procurement. Sunwoda might be considered a smaller player compared to rival Chinese battery makers but customers include XPeng, Mercedes and Guangzhou Automobile. Chinese battery suppliers are positioning themselves in Europe, leading to a shake-up of e-mobility supply chains.