H. Yoo
Research expert covering South Korea
Automotive industry in Hungary - statistics & facts
Hungary has a long-established reputation as an automotive manufacturer, and now it is positioning itself as one of the pioneers in electric vehicle (EV) and battery manufacturing. The country has swiftly grown into a hub for electric vehicle investments, with multiple Eastern EV and battery giants operating in Hungary. However, following a peak in 2023, EV battery and dry cell production saw a significant decrease in the country due to Samsung SDI and SK on, the two largest producers, losing their market share to Chinese competitors offering lower prices.
