SMM Analysis: Contemporary Amperex Technology Co. Ltd. (CATL) is about to invest 1.96 billion yuan to build a power battery base in Hungary. On July 30th, CATL, the Chinese power battery giant, recently released a statement saying that the company had recently reviewed and passed the Proposal on the Investment and Construction of a New Energy Vehicle Power Battery Factory Phase I Project in Hungary by its subsidiary, and agreed that its subsidiary Contemporary Amperex Technology (Hungary) Co., Ltd. should invest and build a new energy power battery factory in Hungary with its own funds or raised funds. It is understood that the total investment of the Hungary power battery factory project does not exceed 1.96 billion yuan, including 660 million yuan of own funds and 1.3 billion yuan of bank loans. At present, the project funds are mainly used for land purchase, construction engineering and equipment procurement. According to the announcement, the current project is implemented by the company's subsidiary Contemporary Amperex Technology (Hungary) Co., Ltd.