ANNOUNCEMENT 07 Jan 2022

In January 2022, the European Commission approved an investment aid measure from Hungary aimed at supporting the establishment of a copper foil battery plant in the Hungarian region of Közép-Dunántúl.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

SA.59516 Hungary - LIP - regional investment aid to Volta Energy Solutions Kft.
https://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=3_SA_59516

European Commission's press release, 7 January 2022. State aid: Commission approves €24 million Hungarian investment aid to Volta Energy Solutions' battery copper foil plant
https://ec.europa.eu/commission/presscorner/detail/en/ip_22_182

Inception date: 07 Jan 2022 | Removal date: open ended

Financial grant

On 7 January 2022, the European Commission approved a EUR 24 million (USD 27 million) investment aid measure. It will support the company Volta Energy Solutions in the construction of a new plant for battery copper foil in the region of Central Transdanubia. The copper foil produced in this new plant will be used in the manufacture of batteries for electric vehicles.

After assessing the measure under Article 107(3)(a) TFEU, the Commission decided not to raise objections. As of January 2022, the Commission's Decision has not been published.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the financial support granted here is discriminatory.

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