German battery manufacturer Akasol is preparing for an initial public offering (IPO)— and has its sights set on acquisitions buoyed by “strong growth” in the electric vehicle (EV) market.
The Darmstadt-based company, incorporated just 10 years ago, said its lithium-ion battery systems business has already amassed orders worth EUR1.45 billion ($1.7bn) through to 2024, with clients including Daimler, Alstom, Bombardier and Rolls-Royce Power Systems.
Chinese lithium battery giant Contemporary Amperex Technology (CATL) is to supply batteries for Renault’s Kangoo ZE electric vehicle range, BBB has confirmed.
And Renault’s EV “alliance” partner, Nissan, has told BBB it will also use Chinese-made batteries for its first mass-produced Sylphy Zero Emission EVfor China— although it declined to name the supplier.
Plans have been unveiled to build a 2GW network of grid-scale batteries and rapid electric vehicle (EV) charging stations across England and Wales.
UK firm Pivot Power said the GBP1.6 billion ($2.1bn) programme will see 45 sites developed— “installing grid-scale 50-megawatt batteries at electricity sub-stations connected directly to the extra-high-voltage transmission system”.
Volkswagen has told BBB it will build a pilot manufacturing plant for battery cells in Germany as part of a new corporate “centre of excellence”.
The pilot facility, on which work is expected to start by 2019, will be incorporated with an existing VW plant in Salzgitter, Lower Saxony, a VW spokesperson confirmed.
Chinese private capital firm GSR Capital is ramping up its ambitions to become a key player in European EV battery production with plans for a manufacturing plant in Sweden.
GSR is to build the battery facility at Trollhättan, 75km north of Gothenburg, on land adjacent to Swedish electric vehicle producer NEVS— in which GSR will also invest $500 million.