EcoPro founder calls Hungary plant 'treasure trove' for Europe

Lee Dong-chae, founder of South Korean battery materials maker EcoPro, said the company’s cathode material plant in Hungary must become a long-term “treasure trove” underpinning South Korea's battery supply chain in Europe.

“The Hungary Debrecen plant is EcoPro’s first overseas cathode materials production base, built with an investment of 1.3 trillion won (830 million euros),” Lee was quoted as saying during the company’s 2026 business briefing held earlier this month. “We must turn it into a true treasure trove.”

The plant, EcoPro's first cathode materials factory in Europe, is expected to bolster the competitiveness of South Korea’s electric vehicle and battery industries. When full-scale commercial operations start in 2026, Debrecen-produced cathode materials will supply South Korean battery makers like Samsung SDI and SK On, who will then deliver batteries to global automakers, completing a Europe-based value chain, the company explained.

Lee stressed that cathode materials produced at the Hungarian plant must achieve aggressive cost reduction to stay competitive, adding that materials suppliers should pursue a win-win model with battery makers and automakers rather than monopolizing profits.

“Only when profits are returned to customers can partnerships be sustained,” a company official said, explaining Lee’s thinking. “If we keep all the gains for ourselves, customers will walk away. By securing low-cost nickel from Indonesia, we must significantly cut cathode material prices so our customers can benefit.”

Lee also thanked the Hungarian government and surrounding communities for their support throughout the project.

“The facility’s rapid construction, completed in just three years since groundbreaking in 2023, was made possible thanks to the Hungarian government’s comprehensive and swift one-stop support,” Lee said at a ceremony marking the completion of the plant on Nov. 28.

Hungary’s Deputy Foreign Minister Levente Magyar said that despite various challenges, EcoPro, the city of Debrecen and Hungarian authorities were able to overcome them through flexibility and insight.

“This project highlights the importance of cooperation and joint problem-solving. EcoPro and its battery business will help elevate Hungary to the world-leading level in EV manufacturing and electric powertrain technologies,” Magyar said in his congratulatory remarks at the ceremony.

The Debrecen complex, spanning about 440,000 square meters, can produce 54,000 metric tons of cathode materials each year — enough to supply batteries for about 600,000 EVs. EcoPro Innovation can produce 8,000 tons of sodium hydroxide annually, while EcoPro AP produces 16,000 cubic meters of oxygen per hour.