Kedali invests EUR 50m in Hungary battery project

Shenzhen Kedali Industry (SZSE:002850) announced plans to invest no more than EUR 50 million in the third phase of its power battery precision structural parts project in Hungary. The investment, funded by the company's own capital, will cover construction, equipment procurement, and working capital. Located in Gödöllő, the project is expected to take approximately 24 months to complete and will be managed by Kedali's wholly-owned subsidiary, Kedali Hungary Kft. The company expects the expansion to increase the production capacity of lithium-battery precision structural components and achieve an annual output value of approximately EUR 100 million upon completion. The project has already been approved by the company's board of directors but remains subject to regulatory approvals in both China and Hungary.