Hungary's foreign minister announced at a conference that Chinese battery maker EVE Power intends to invest 1 billion euros ($1.10 billion) in the construction of a battery manufacturing facility in Debrecen, a town in eastern Hungary.

This will be the company's first factory in Europe, according to Peter Szijjarto, and it is intended to meet the demand for lithium batteries by BMW's (BMWG.DE) electric cars, which will be built at a nearby manufacturing facility that is presently under development.

EVE Energy Co., Ltd. (hence referred to as EVE) was founded in 2001 and initially listed on Shenzhen GEM in 2009. EVE is currently a global lithium battery firm with core technology and solutions for consumer batteries, power batteries, and energy storage batteries after 22 years of rapid development. 

EVE has consistently upheld the corporate tenet of operating in accordance with the law and is dedicated to fostering a kind and welcoming workplace. Resolutely prohibit the employment of children and the use of child labour by implementing the "Labour Law of the People's Republic of China" and other Chinese and foreign laws and regulations. EVE shall respect job applicants and employees of all genders, countries, faiths, races, and ethnicities based on fair, open hiring and employment practises.

EVE is committed to fostering an environment that is effective, transparent, fair, and just for business. The company also maintains corporate ethics, operates morally, prioritises high-quality development as part of its sustainable development strategy, and disapproves of any commercial misconduct that impedes free market competition.