Doosan Solus has acquired an incentive of approximately 34 billion won from the Hungarian Investment Agency. Doosan Solus Kwak Keun-man, CFO (second from left), and Doosan Solus Kim Jong-woo (third from left) are taking a commemorative photo after signing an incentive agreement with the head of the incentive department of Adrienn Olah Kantol (fourth from left) of Hungarian Investment Agency.

Doosan Solus announced on the 25th that it had obtained an incentive of about 34 billion won from the Hungarian government. The amount includes funding necessary for the establishment of a battery foil factory, a core material for EV batteries, and corporate tax exemption.

Doosan Solus plans to utilize the cash incentives it will receive from the Hungarian government in October to build a mass production system at the Hungarian factory. In order to increase the current production capacity of 10,000 tons to 25,000 tons by 2022, the company plans to expand the production from the end of the year, and plans to expand the production scale to 75,000 tons by 2025 after further expansion.

An official from Doosan Solus said, 'The Hungarian government highly appreciated the sales growth and job creation capabilities of local Doosan Solus production plants, and provided VIP treatment (VIP Status) within 2 months of applying for an incentive. 'We are looking forward to a variety of benefits, including the Hungarian government's cash support and exemption from corporate taxes, increased transportation for employees and infrastructure,' he said.

Meanwhile, Doosan Solus plans to mass-produce battery foil from 2H and supply it to global battery customers.

# Doosan Solus # Battery foil # Electric vehicle # Battery # Hungary

(C) 2020 Electronic News Publishing, source ENP Newswire