Over recent years, Central & Eastern Europe has become the European Union’s key supplier of batteries for electric vehicles (EVs). Already known for the vast number of automotive investments, CEE countries have turned their attention to embracing Europe’s economic transition through one key element – the production and distribution of EV batteries.
Poland and Hungary have taken the lead in the ongoing transformation of the European automotive industry. The Polish and Hungarian governments have courted foreign investments to grow their local battery industry from various directions and now play crucial roles in the global EV supply chain.
Realizing their potential in the green transition, several other CEE countries have also been seeking ways to develop their domestic battery production capacities.
While short-term setbacks over the looming economic downturn, Russia’s war against Ukraine, the energy crisis and global market challenges will inevitably hit the industry, the EV battery sector is poised for future growth as European demand for EVs is likely to accelerate in the long run, bringing opportunities for international investors across the CEE region.
Below, Aretera provides further insight into the state of the CEE EV battery industry, with short-term and long-term implications of investing in the region. Aretera is proud to support the II. Hungarian Battery Day, a major sectoral conference on EV battery production in Europe to be hosted on 20 October 2022 in Budapest by the Hungarian Battery Alliance, as an institutional partner. The conference will explore the opportunities and challenges of the fast-developing Hungarian and regional battery industry. Find out more about this landmark event here.