Hungarian government: Yiwei Power will invest nearly 1.2 billion US dollars in Hungary to build a factory to supply BMW with batteries.

[Hungarian government: Yiwei Power will invest nearly US $1.2 billion in Hungary to build a factory to provide batteries for BMW] Yiwei Power, a subsidiary of Yiwei Lithium Energy, will invest 400 billion Hungarian forint (about US $1.2 billion) to build a factory in Debrecen, Hungary, to supply BMW with batteries. Hungarian Foreign Minister Seyaldo said in a video posted on his Facebook account that the Hungarian government will provide 14 billion forint subsidies for Yiwei Power's investment. (Bloomberg)