Norwegian Aluminium maker Hydro is expanding its European extrusion capacity to the growing electric car market with EUR 35.7 million investments in a new high strength press at its plant in Szekesfehervar in Hungary. The new press will be installed in an existing building and will mainly use billets from the new recycling plant which is under construction. The first extrusion is planned for 2025. The new press will be a copy of the successful P60/12-inch press line in Hungary, upgraded to the most advanced and efficient technologies on the market to minimize the carbon footprint of the process. The new press will be part of Hydro’s automotive network, which includes the automotive press investment in Denmark announced earlier this year. This network of specialized plants offers a unique selling point towards car manufacturers with large volumes, allowing supply from several locations. Together, with the new press in Tønder, Denmark and our existing P5 press in Hungary, this new investment will give Hydro unmatched capabilities to supply the automotive market anywhere in Europe with the best available technology and a balanced footprint The automotive market growth is driven by electrification, with increasing demand for extruded aluminium profiles for electrical vehicle applications, weight mitigation and crash properties. It is expected that around half of the new cars built in Europe by 2029 will be electric.