Lakatos Koves & Partners has advised the Japan-based Toyo Ink Group on its market entry and operation of its new battery component plant in Hungary.
According to LKT, the Toyo Ink Group has set up a new plant in Ujhartyan, Pest County, which is also its first European plant, on top of existing production sites in China, Japan, and the US. "The HUF 7 billion investment creating 45 jobs marks a key milestone in the business strategy of the Japanese-owned company, as it is planning to further expand due to the rising global demand for electric vehicles."
"In the newly inaugurated facility, Lioaccum CNT dispersion will be produced that helps cut manufacturing costs and reduce cell space of batteries, which allows inserting active materials to boost battery capacity and performance," the firm informed. "The Hungarian operation is of strategic importance for the group and for Hungary also."
LKT’s team included Partners Attila Ungar and Adam Mattyus, Counsel Eva Bognar, Senior Lawyers Nora Szigeti and Kornel Dirner, and Junior Lawyer Fanni Balas.