China’s CATL to construct a $7.6 billion Hungarian battery plant to supply Mercedes, BMW
China's CATL said that it would build a 7.3 billion euro ($7.6 billion) battery plant in Hungary, Europe's largest so far, as the world's biggest electric vehicle battery maker gears up to meet growing demand from global automakers. CATL said that construction of the 100 GWh (gigawatt hours) plant in the eastern Hungarian city of Debrecen, its biggest overseas investment, would start this year after receiving approval, and should last no more than 64 months. Once built, it is set to be Europe's largest battery cell plant…