January 11, 2018 / 7:48 AM / 6 days ago

GS Yuasa to set up Hungary plant for automotive lithium ion batteries

TOKYO, Jan 11 (Reuters) - Japanese battery maker GS Yuasa Corp said on Thursday it would set up a factory in Hungary that would assemble automotive lithium ion batteries.

The company will assemble batteries made in Japan at the new factory, but in the future will consider manufacturing them on site as well, the company said in a statement.

Electric vehicles have gotten a boost as a greener alternative to conventional cars as European governments move to ban the sale of gasoline and diesel cars over the next few decades. (Reporting by Minami Funakoshi; Editing by Chris Gallagher)

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