The foreign ministry quoted Péter Szijjártó as saying that the new plant would ensure that “electric batteries will be produced in Hungary without any impact on the environment … with the recycling of batteries also ensured.”

According to the minister, Andrada “observes environmental regulations four times as stringent as those enforced in Hungary.”

He added that the new technology was Andrada’s own, and that it was aimed at “making battery production circular, saving the environment from any waste”.

He also added that the new technology would be first applied at Alsózsolca. The new plant, to be built at a cost of 10 billion forints (EUR 26.2m), will have the capacity to recycle 10,000 tonnes of batteries a year.

The government is contributing 4.7 billion forint to the project, which will create 200 new jobs, the statement added.