Led by Brussels Competition partner Michel Struys, Global law firm Hogan Lovells has advised Samsung SDI on securing €89.6 million in state aid from the Hungarian government to fund the expansion of its battery cell production facility located in Göd.
The European Commission found Hungary’s €89.6 million of public support granted to Samsung SDI to be in line with EU State aid under Art. 107(3)(a) of the Treaty on the Functioning of the European Union. The investment aid will support the expansion of Samsung SDI’s battery cell production facility for electric vehicles in Göd and will contribute to the development of the region.
The plant, which supplies more than six million battery cells per month to customers mainly in the European Economic Area, reached full production capacity in January 2022.
Michel Struys said: “The EC approval marks the culmination of an investigation spanning over three years, during which time Samsung SDI has significantly contributed to the economic development of the Central Hungarian region through this facility. Continued investment, job creation and a product output facilitating energy transition demonstrate our client’s commitment to sustainability which extends beyond borders. The European Foreign Subsidy regulation, which will shortly be applied, will increasingly be considered when undertakings such as Samsung SDI make such investments ”
The Hogan Lovells team was led by partner Michel Struys with support from counsel Francesco Pili and associate Hélène de Cazotte.
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