Slovenian firms investing in recycling of EV batteries in Hungary

Ljubljana, 30 August - Several Slovenian stakeholders have founded a company in Hungary to recycle batteries used in electric vehicles, an investment worth EUR 25 million in the first phase. Andrada will be based in northern Hungary, near where China's CATL is building a major battery factory in Debrecen.

Zagreb, Croatia
Batteries for electric cars.
Photo: Hina/STA
File photo

Hungarian Foreign and Trade Minister Peter Szijjarto, who was in Slovenia for the Bled Strategic Forum earlier this week, told Hungarian press agency MTI that his country contribute 4.7 billion forints.

Worth 10 billion forints, the Slovenian factory will have the capacity to recycle 10,000 tonnes of batteries a year.

Andrada executive director Peter Tibaut stressed in a press release the role of the project for sustainability of Europe's electric mobility.

"As the biggest Slovenian investment in Hungary to date the project is of strategic importance for the Hungarian government, which will suitably support it financially," he said.

Minister Szijjarto was quoted by MTI as saying that Andrada "follows environmental standards that are four times stricter than those in place in Hungary".

The company was established by Slovenian entrepreneurs, experts and automotive industry companies, including Hidria Holding director Iztok Seljak and Peter Tibaut, as well as the companies TAB Mežica, a battery maker, and ACH Invest.

Tibaut said that the company will be based in Alsozcolci near the city of Miskolc, initially employing 70 tech expects and up to 200 in 2024.

It plans to cooperate with the University of Miskolc and the National Chemistry Institute in Ljubljana.

© STA, 2023