Industry
Sungsung ST to expand electric vehicle parts production in Europe
Sungsung ST will invest 12.6 billion won to fund facility investment aimed at responding to a recovery in the European electric vehicle market. The company said it decided to provide a debt guarantee for borrowing by its Poland unit to finance the investment. The guarantee totals 7.3 million euros, equal to 12.3 percent of the company’s equity. The company said it plans to secure investment funds to expand production capacity for battery module parts supplied in Poland.
