ANNOUNCEMENT 22 Mar 2022

In March 2022, the European Commission approved an investment aid measure from Hungary aimed at supporting the establishment of an electric vehicle battery cells plant in the region of Közép-Dunántúl.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

SA.63328 Regional investment aid to SK On Hungary Kft
https://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=3_SA_63328

European Commission, press release, 22 March 2022, State aid: Commission approves €209 million Hungarian aid for construction of SK On Hungary's electric vehicle battery plant:
https://ec.europa.eu/commission/presscorner/detail/en/IP_22_1962

Inception date: 22 Mar 2022 | Removal date: open ended

Financial grant

On 22 March 2022, the European Commission approved a EUR 209 million (USD 230 million) investment aid measure from Hungary. It will support the company SK On Hungary in the construction of a new plant for battery-powered vehicles in the region of Közép-Dunántúl.

SK On Hungary is a subsidiary of the SK Group, a global South Korean company active in various industries, including energy, chemicals, semiconductors, information and communications technology, logistics and services.

As of March 2022, the European Commission's decision still hasn't 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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