Hungary Government Plans to Increase Battery Recycling Capacity by 2024
National Economy Minister Márton Nagy met with Sungeel Hitech Chairman-CEO Yi Kang-Myung and other executives of the company on Wednesday to discuss the challenges and opportunities in the battery protection industry for the green transition.
The meeting, which was also attended by South Korea’s ambassador to Hungary, Kyu Doc Hong, highlighted Hungary’s leading position in battery production. Nagy pointed out that the country’s exports of batteries and battery parts now exceed 5 percent of GDP, making Hungary the top performer in this sector within the European Union.
Nagy emphasized the importance of forging ties with companies like SungEel HiTech, which has successfully recovered large amounts of raw materials from used lithium-ion batteries. He stressed the significance of recycling and reusing valuable resources in Hungary and Europe, where such practices are currently lacking.
Furthermore, Nagy highlighted SungEel’s support for sustainable technologies in battery recycling. He underscored the need for Hungary to access the best technologies for recycling large quantities of used batteries in a safe and environmentally conscious manner by 2027. Additionally, the country should focus on reusing the valuable materials from spent batteries.
To achieve these goals, Nagy emphasized the importance of deciding on companies and venues investing in this aspect of the industry within the year.
The collaboration with companies like SungEel HiTech is essential for Hungary’s efforts towards sustainable battery production and recycling. By investing in innovative technologies and practices, Hungary aims to lead the way in environmentally friendly and resource-efficient battery manufacturing.
In related news, South Korea celebrated its National Day with a special concert in Budapest, highlighting the close ties between the two nations. Additionally, new China-Hungary projects are in the pipeline as economic cooperation continues to grow.
As Hungary progresses towards a greener economy, partnerships with forward-thinking companies like SungEel HiTech will play a crucial role in achieving sustainable and efficient battery production and recycling practices.
Image source: depositphotos.com
