EU to investigate Hungarian state aid for Samsung SDI's battery cell plant
Reuters
Published Oct 14, 2019 06:21AM ET
EU to investigate Hungarian state aid for Samsung SDI's battery cell plant
BRUSSELS (Reuters) - EU antitrust regulators on Monday voiced doubts whether Budapest's plan to grant 108 million euros ($119.2 million) to Samsung (KS:005930) SDI's battery cell production facility in Hungary complies with the bloc's state aid rules.
The European Commission opened an investigation, saying 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 euros to expand the factory to supply electric cars.
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Written By: Reuters
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