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Automotive and industrial supplier Schaeffler has opened a new production facility at its Szombathely location in the west of Hungary. Construction work on Szombathely II, the Schaeffler Group’s second plant in western Hungary, started in 2020. million between 2026 and 2029.
It’s official: The European Union is moving ahead with increased tariffs on Chinese-made EVs to as much as 45.3% – in an effort to save its autoindustry from total demise. Subsidized solar panels have also wiped out European solar producers , and European governments are hoping the autoindustry can avoid the same fate.
on Chinese EVs are designed to protect its struggling autoindustry from Chinese competition, with Chinese automakers flooding the bloc with cheap imports. BYD is also considering manufacturing both EVs and hybrids at its new plant in Hungary. FTC: We use income earning auto affiliate links. Get started here.
In 2020 Tesla sold exactly 1000 of these for every solar-year day. France’s autoindustry is probably the largest Western autoindustry that goes completely under the radar in the US. Ok, if you dare read, go over the fold… I won’t give the punch line away, and there’s more than one surprise this year!
As if that were not enough, I’m hearing now that BYD is on the verge of a breakthrough in the solar power business and that the company has big plans to make rechargeable batteries at a utility scale to store energy from intermittent, renewable sources like wind and solar.
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