Photo/Zhu Wanping (NBD)

Chinese battery producer Contemporary Amperex Technology Co., Limited (CATL) signed a real estate deal with the city of Debrecen in Hungary on Monday, marking the official launch of its second European plant.

Covering an area of 221 hectares in the Southern Industrial Park of Debrecen, construction of CATL's Hungarian plant is scheduled to begin this year. With a total investment of 7.34 billion euros (7.28 billion U.S. dollars), the plant is expected to achieve a production capacity of 100 GWh.

CATL's investment is among the five largest greenfield (foreign) investments made in Europe in the last ten years, and the largest investment ever in Hungary.

Email: tanyuhan@nbd.com.cn