• The facility is CATL's second European plant besides its German operation, with an annual capacity target of 100 GWh.
• CATL unveiled the Shenxing Pro Battery in Europe, the first product featuring its latest NP 3.0 technology.

CATL (SHE: 300750) will begin production at its plant in Debrecen, eastern Hungary, within months, expanding the Chinese battery giant's European capacity.

The company currently aims to start production at the Decrecen facility by the end of this year or early next year -- within the next four to five months -- CATL's general manager for Europe Matt Shen said, according to a Reuters report on Sunday.

CATL initially hoped the factory would begin production by the end of 2025, the report said.

The scale of the new facility -- planned with an annual capacity of 100 GWh and employing 9,000 workers -- will surpass CATL's existing European battery production facility in Thuringia, Germany, according to the report.

The plant aims to expand its battery production capacity in Europe to serve automakers including BMW, Stellantis, and Volkswagen, the report noted.

CATL announced in August 2022 its plan to build a battery base project in Debrecen, marking its second European factory alongside its German facility.

The total investment will not exceed €7.34 billion ($8.6 billion), with an annual production capacity of 100 GWh.

The project's planned land area is about 2.21 million square meters, and the total construction period would not exceed 64 months, CATL said in an exchange filing at the time.

On September 5, 2022, CATL signed a preliminary land purchase agreement with the city of Debrecen, marking the official launch of the factory project.

In May this year, CATL raised about $4.6 billion through its Hong Kong listing, with about 90 percent of the funds earmarked for advancing the first and second phases of its Hungarian project.

Yesterday, ahead of the IAA Mobility auto show in Munich, Germany, the Chinese battery giant unveiled its Shenxing Pro Battery -- the first product featuring its latest NP 3.0 (No Propagation 3.0) technology.

Based on lithium iron phosphate (LFP) chemistry, the battery targets Europe's EV market with high safety, ultra-fast charging, and long range.

CATL launched the Shenxing Superfast Charging Battery in China on August 16, 2023, saying it is the world's first LFP battery supporting 4C charging.

A Reuters report in September 2023 mentioned that CATL would produce the Shenxing Battery in Germany and Hungary.

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