EU competition enforcers have extended a near two-year investigation into Hungarian State aid for South Korean manufacturer Samsung electric vehicle (EV) battery factory after Hungary submitted new data to back its case.
Samsung SDI, an affiliate of South Korean tech giant Samsung Electronics, began production at the Hungarian plant in 2018, reported Reuters.
The European Commission opened an investigation in October 2019 to assess whether Hungary’s plans to grant €108 million (US$128.5 million) in State aid complied with the bloc’s competition rules.
“Hungary now argues that Samsung could have benefited from an investment grant and a tax exemption in an alternative location outside the EU, which would have increased the viability of the alternative location with respect to Hungary,” the Commission stated.
It stated that Budapest has also produced new documentary evidence to show that Samsung’s search for a location for the plant had also included a number of new production facilities in Europe and an alternative location in a less developed region in the EU.
Extending the EU investigation will allow third parties to comment on the Hungarian aid.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Plaintiffs Seek Communications In Antitrust Case Against Pioneer
May 9, 2024 by
CPI
UK Government Approves Vodafone-Hutchison Merger
May 9, 2024 by
CPI
Senate Majority Leader Announces Plan for AI Regulation Framework
May 9, 2024 by
CPI
BBVA Initiates Aggressive Takeover Bid for Sabadell
May 9, 2024 by
CPI
TikTok to Label AI-Generated Content Amid Election Interference Concerns
May 9, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI