News / Taewoong eyes Europe's EV battery market with Hungarian warehouse

Photo: Taewoong Logistics

South Korea’s Taewoong Logistics is leasing one of Maersk’s warehouses in Hungary to tap into its growth as a manufacturing hub for batteries for electric vehicles.

Taewoong’s Hungarian subsidiary, TGL Hungary, will operate the 2,483 sq metre facility in Dunaharaszti, in northern Hungary, as a base for its logistics business in Eastern Europe.

TGL Hungary was established in 2018 and has seen increasing EV battery production after large-scale investment from South Korean chaebols, including SK, and Chinese groups like Eve Energy. Hungary ...