EU antitrust regulators on Monday, October 14, voiced doubts whether Budapest’s plan to grant €108 million (US$119.2 million) to Samsung SDI’s battery cell production facility in Hungary complies with the bloc’s State aid rules.
The European Commission opened an investigation, stating that it has doubts whether the aid has an incentive effect and whether it will boost regional development. It also expressed concerns that the measure may lure jobs from other EU countries to Hungary.
Samsung SDI is investing around €1.2 billion (US$1.32 billion) to expand the factory to supply electric cars.
Full Content: European Commission
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