Government spending for domestic electric vehicle battery manufacturing

On the 6th of February 2023, the Ministry of Foreign Affairs of Hungary announced a total of HUF 2.3 billion in state support to Nippon Paper Industries for investments in a manufacturing plant in Vácrátót. The plant will produce carboxymethyl cellulose polymer, which is a component for lithium-ion battery anodes in electric vehicles, and is expected to start production at the end of 2024. 

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