Chinese Battery Maker Plans European Factory
China’s SVOLT Energy Technology Co. plans to open a €2 billion lithium-ion battery plant and development center somewhere in Europe in 2022, Reuters reports.
Construction is expected to begin in the second half of 2020. SVOLT says the facility will open in 2022 with 20 gigawatt-hours of capacity and expand to 24 GWh by 2025.
The battery maker was spun off last year by Great Wall Automobile Holding Co. The company currently is erecting its first battery plant in Changzhou. That facility will have an initial annual capacity of 12 GWh, eventually expanding to 70 GWh.
SVOLT General Manager Yang Hongxin says the company hopes to establish five production bases and 100 GWh of operational capacity worldwide by 2025. Chinese plants in Changzhou, Chengdu/Chongqing and Guangzhou will have combined capacity of 60 GWh. Europe and the U.S. each will get one 30 GWh facility, Yang says.
Chinese electric-car startup Nio Inc. is forming a manufacturing joint venture with Beijing E-Town International Investment and Development Co., which is investing 10 billion yuan ($1.5 billion) in the business.
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