Hungarian Conservative

On Thursday Minister for National Economy Márton Nagy held a special meeting with representatives from SK ON Hungary and CATL Debrecen, two of the largest and most influential high-tech battery industry companies. The parties reviewed the international situation of the battery industry related to the electric vehicle sector, with particular emphasis on its European context, as well as the challenges facing the sector and the opportunities within the green transition.

About 5 per cent of the Hungarian GDP is generated by the auto industry, therefore, initially, the EU’s decision to ban the sale of all new combustion-engine cars in 2035 was met with resistance in Hungary. Due to the ban, it is expected that from 2035 on practically only electric vehicles will be allowed to be sold in the European single market, which could have left the Hungarian economy that was dependent on the old technology vulnerable. Fortunately, however, Hungary showed a remarkable ability to adapt to the changing circumstances. In the past two years since the ban was proposed electric battery manufacturers have been engaged, which helps facilitate the green transition of the Hungarian car industry.

In the Eastern Hungarian city of Debrecen, Jobbik parliamentary group leader László Lukács criticized the Orbán administration for the number of foreign workers being allowed in the country.

In his video message sent to the conference taking place in Yibin, China, Foreign Minister Péter Szijjártó praised the mutually beneficial strategic cooperation between Hungary and China, and called Hungary ‘a meeting point of Western and Eastern investors’.

‘If the European Union views China as a rival, it will lose out. It has become evident in recent years that China has a competitive advantage in many areas of the economy,’ the minister declared. He emphasised that if the EU wants to benefit from its relationship with China, it should focus on cooperation based on mutual trust, respect, and benefits rather than rivalry.