Contact with the owners has been cut off, but the battery factory in Debrecen is being built undisturbed

“As we announced last November, our business activities and plans within the group are proceeding as normal. This includes our investment in Debrecen, where construction and installation of equipment continues as planned.”

James Shih, a Semcorp Group Vice President in charge of Global Projects, who added: They are looking forward to starting pilot production this year Battery factory in Debrecen.

Semcorp assets were allegedly smuggled abroad

Recently, it was revealed that two of its Chinese owners have been placed under house arrest in China. Chinese authorities suspect that the Chinese billionaire brothers secretly wanted to flee their great fortune abroad.

Paul Xiaoming Lee And Tony Xiaohua Lee He could have been placed under house arrest at the end of last year. The year-end capital withdrawal fever can be traced back to the chaotic situation of Covid and regulatory tightening, but the events taking place in the CCP are also worrying business leaders.

According to the suspicion, the businessman brothers were able to pump $1.4 billion, or about 520 billion forints at the current exchange rate, from the Semcorp group.

The brothers and their families had a net worth of more than $10 billion, making them the richest in Yunnan Province.

Paul Hsiao-Ming Lee is an American citizen, while Tony Hsiao-Hua Lee is Chinese. Brother and sister graduated from the University of Massachusetts and started their careers in the United States. In 2010, they decided to start doing business related to electric vehicles.

They hit it big with Semcorp in just ten years They became the first in the world lithium ionin the batteries Used in the production of separation films.

Foreign Ministry: Everything is fine with the battery factory in Debrecen

Semcorp announced its €183m project in November 2020 and started its first non-Chinese project in September 2021 lithium ion battery Separation film production plant building. The investment will create more than 440 jobs in and around Debrecen.

The Ministry of Foreign Affairs and Trade responded to what happened with the owners of Semcorp: Based on the information received from the company, the Ministry knows that there is no interruption in construction in Debrecen.

It captures it well Invest in Debrecen The importance of the fact that the Hungarian government gave the Chinese company 13 billion non-refundable grant for the construction of the battery plant.

Peter Szijjarto In 2021, at the groundbreaking ceremony in Debrecen, the Minister of Foreign Affairs and Trade spoke about how investment is another chapter in the success story of Hungarian-Chinese economic cooperation.

Local citizens have been protesting against the construction of the battery factory ever since: the Debrecen Civic Forum Association recommends that the investment of the Chinese battery factory to be built in Debrecen’s southern industrial zone be suspended.