CATL Hungary

The facility is CATL's second European plant besides its German operation, with an annual capacity target of 100 GWh.

CATL launched the Shenxing Battery in China on August 16, saying it can get 400 kilometers of range on a 10-minute charge.

The project, with an investment of 7.34 billion euros and a planned capacity of 100 GWh, will start construction of its first building within the year.

Nio's battery swap station plant in Hungary will be operational in September, about two hours from CATL's planned battery production base in the country.