Battery maker Sunlight will invest an additional €50 million ($59 million) into its US and European plants to increase lead-acid and lithium-ion battery manufacturing.
The Greek firm will invest €30 million ($35.5 million) to increase production of motive power lead-acid flooded products at its plant in Xanthi, northeastern Greece, from 4GWh to 5.3GWh up to Q3 next year.
This investment will include the expansion of existing infrastructure with automated, state-of-the-art machinery in the battery plant.
The remaining €20 million ($24 million) is being invested to expand its lithium-ion battery assembly plants in Verona, Italy, and North Carolina, US.
Those plants will install three automated assembly lines for lithium modules and complete lithium battery systems, as well as one assembly line for prototyping and R&D purposes.
This investment is part of the company’s goal to offer integrated lithium products for off-road mobility, industrial use, and energy storage applications.
Production is anticipated to begin by Q3 next year and deliver 1.7GWh of manufacturing capacity a year, while additional space reserved with the potential to increase capacity up to 4GWh.
This latest investment brings Sunlight’s total committed CAPEX spend for 2021-2023 to €180 million ($213 million), with €150million ($170 million) committed to the expansion of lithium production.
Sunlight’s CEO Lampros Bisalas said: "The investment is already under implementation, and we’re excited for the new, state-of-the art machinery to be installed and further expand our capabilities.
“We’re keen to meet both current and future demands in the off-road mobility and RES energy storage, by scaling up capacity and rendering our Xanthi industrial park a true gigafactory.”