Soulbrain to choose Hungary in Europe - VIDEO REPORT

Soulbrain to choose Hungary in Europe - VIDEO REPORT

Péter Szijjártó, Minister of Foreign Affairs and Trade and Dominic Lee, CFO of Soulbrain

Soulbrain establishes its first European unit in Tatabánya. The South Korea based company, which produces electrolyte as a key component of lithium-ion batteries, will supply core materials from its newly built plant, worth almost EUR 21.5 million, mainly to the top performers of the Hungarian battery industry.

Soulbrain Group has been developing, producing and delivering state-of-the-art core materials for the electronics industry for over three decades. The company group focuses, among others, on the design and production of semi-conductors, displays, battery components and other electronics products. Samsung SDI and SK Innovation constitute its major partners, who themselves are market leaders in the manufacturing of batteries for electric cars and mobile phones. Outside South Korea, the company has presence in the United States and Malaysia. Globally it gives work to over 2000 employees, out of which 120 people are involved in R&D.

In its Hungarian unit in Tatabánya, Soulbrain will produce electrolyte, which is one of the four basic components necessary for battery production. The EUR 21.5 million investment will result in the construction of a plant of 4,700 square metres, whose primary objective is to provide non-water electrolyte to the production units of SK Innovation (Komárom) and Samsung SDI (Göd), in the meantime creating 45 new jobs. The investment also contributes to the consolidation of the Hungarian e-mobility sector's leading role in Europe.