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bne Tech
July 5, 2019 www.intellinews.com I Page 20
South Korean e-car battery maker to set up new plant in Hungary
Levente Szilagyi in Budapest
South Korea's Inzi Controls is investing HUF14.8bn (€45.8mn) in building a battery plant for electric vehicles in Komarom near the Slova- kian border, it was announced on July 1.
The government is providing HUF1.63bn funding for the project as the plant will create 122 work- places, Minister of Foreign Affairs and Trade Peter Szijjarto said on Monday. Hungary has won yet an- other investment amidst stiff competition, bring- ing it one step closer to an annual HUF10 trillion in automotive industry production, he added.
Inzi Controls Hungary executive manager Cho Yoonhyoung and Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto.
The Komarom factory will be Inzi’s first European plant, which could start production early 2020. The South Korean group choose Hungary because of the significant government subsidy, skilled local workers and the favourable location of the region, said Inzi Con- trols Hungary executive manager Cho Yoonhyoung.
Inzi Controls supplies parts to Audi, Volkswagen and Continental among others and is the techno- logical partner of Bosch.
Read the full story here
Russian online retailer Wildberries boosts sales by 80% in 1H19
Russia's online store Wildberries posted 79% increase in sales in 1H19 to RUB85bn ($1bn), the company said on July 4.
The number of customers in 2Q19 increased by 85%, which was attributed to expansion of the product line and of own network of pick-up points.
As reported by bne IntelliNews, fashion e-com- merce retailer Wildberries was Russia’s biggest e-commerce online store in 2018 according to
a new ranking by revenues from Data Insight.
Wildberries.ru maintained its leadership (since 2016) with sales revenues nearing $1.8bn in 2018, up 74% from the previous year. The site is
also the global leader by traffic – ahead of ASOS, H&M, Zara, Next, Uniqlo and alike, according to SimilarWeb.
Forbes Russia recently estimated Wilderries’ value at $1.2bn, making it the fourth most valuable Inter- net company in Russia after Yandex, Mail.ru Group, and Avito. Wildberries also recently made it into the top three most valuable internet unicorns.
In the reporting period of 1H19 the fastest growing product categories were electronics, office equip- ment, products for pets, food, and tools. Currently Wildberries operates 4,700 own distribution points in Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan.