Wasion announces formal entry into Hungary, accelerating the deepening of its presence in the European market

On November 16th, Robert Tian , the Executive Director of Wasion Holdings and the President of Wasion International, attended a press conference held at the Ministry of Foreign Affairs and Trade in Budapest, the capital of Hungary. During the conference, he officially announced Wasion's investment plans in Hungary and Europe. Péter Szijjártó, the Minister of Foreign Affairs and Trade of Hungary, also attended the conference and delivered a speech.

Robert Tian stated during the conference, "Our decision to local investment is rooted in our belief in the incredible potential of the Hungarian and European markets, especially for the Smart Metering and Energy Storage sectors. We see Hungary as more than a vibrant local market but also a strategic hub that will someday lead us to broader international markets."

Currently, Wasion's products are sold in more than 50 countries and regions worldwide, with over 30 million meters deployed overseas. Wasion has established five global research and manufacturing centers in Mexico, Brazil, Tanzania, as well as Changsha and Xiangtan in China. The total investment of Wasion will exceed 10.5 million euros, including the establishment of a new fully automated smart metering factory in Gödöllő, Pest County, Hungary. The Hungary factory, serving as Wasion's sixth global research and manufacturing base, is expected to create over 100 job opportunities locally and is planned to commence production in the second quarter of 2024. By 2025, the annual production capacity of smart meters in the Hungary factory is anticipated to exceed one million units. Hungary will also become a key hub in Wasion's European strategic layout, ensuring efficient production and timely delivery of high-quality products through its geographical and transportation advantages, providing more convenient and efficient services to customers and partners. The entire Wasion investment is expected to be completed by 2027, employing up to 200 experienced professionals and creating an outstanding team of energy experts.

Szijjártó mentioned that, "In our cooperation with China, we see not risks and dangers but tremendous opportunities and prospects. Today, the economic collaboration between Hungary and China will be further strengthened through Wasion's investment."

In the future, Wasion will continuously strengthen international innovation in new technologies, new products, and new business models. The focus will be on energy metering, energy efficiency management, new energy, smart cities, and big data services, firmly seizing the significant demands in global energy metering and efficiency management, as well as the new opportunities arising from the construction of innovative power systems. Wasion is dedicated to the ambitious mission of becoming a global expert in energy metering and efficiency management, tirelessly striving to anchor this commitment, and consistently enhance high-quality, comprehensive development, contributing the strength of Wasion to support regional energy conservation, emission reduction, sustainable development, and economic growth.