Is a mega-factory for electric car batteries possible in Europe?

Svolt Energy Technology, a Chinese firm, announces it will invest 2 billion euros in a mega-factory for electric vehicle batteries

The Asian company SVOLT Energy Technology, a spin-off of Great Wall Motors (one of China’s most important car companies), has announced, as reported on the portal “Electrive“, which will launch a mega-factory for electric vehicle batteries in the old continent.

The factory, whose construction would begin in the second half of 2020, would have a production capacity of 20 GWh from its commissioning (2022), with the possibility of increasing by another 4 GWh by 2025. This would be SVOLT’s second plant in themarket, following the one currently being built in the Chinese province of Jiangsu, whose initial capacity will be 12 GWh with the possibility of being multiplied up to 70 GWh.

According to statements by the company’s CEO, Yang Hongxin, the company is in “talks with German and French manufacturers.” It’s important to note that the current electric vehicle industry relies on this type of battery for its ever-growing fleets of electric cars.

That’s why a mega-battery factory doesn’t seem like a far-fetched idea, even though the location of this production center is still unknown. Furthermore, the company aims to reach a production capacity of 100 GWh by 2025. Taking into account theneed of the automotive sectorBy having their suppliers close to their production centers, these types of battery megafactories will grow in parallel with the needs of the electric vehicle market.