EC approves €46.50 mil Hungary battery plant investment

摘要

The European Commission has approved Hungary’s €46.5 million ($52.42 million) investment in chemical company Toray’s new battery separator film plant in the country’s Central Transdanubia region. The EC said July 2 that the investment was in line with the EU state aid rules, as it was limited to the minimum necessary to trigger the investment in Hungary. Toray itself has invested €397 million in the new plant, which will produce battery separator films, a key component of lithiumion batteries, which separate two major building blocks of a battery, preventing short circuits while allowing the movements of ions.