According to the report, Bumchun Precision will invest US$45.3 million in a new aluminum battery terminal plant in Hungary, and the new plant will mainly produce aluminum battery terminal products for electric vehicles.

It was reported that the reason for the establishment of the factory in Hungary was that the local labor force was well-trained and the urban industrial infrastructure was highly developed, and this geographical location can create superior logistics conditions. Besides, the factory will also create 200 jobs for local residents.

In addition, it was estimated that the annual output value of the Hungarian auto industry will exceed 30.7 billion euros next year.