German car maker Porsche is seeking a location and investors for a new 10–20 GWh gigafactory, it said.
Company executives are talking to potential investors over the $2–3.3 billion it needs for the planned factory, said Chief Financial Officer Lutz Meschke. He expects to be able to disclose details by year-end.
High-performance battery maker Cellforce Group, founded in June 2021, was previously co-owned by Porsche and Customcells Holding. Porsche invested to buy a 73% stake and now owns 100% of it.
Cellforce is building a 1.3 GWh plant in the southwest German state of Baden-Wuerttemberg but is after a different site for the new, larger plant, Chief Executive Oliver Blume said at its annual news conference. The company is considering Europe, the US and possibly Canada. Low energy costs are important, executives said.
BASF is Cellforce Group’s exclusive partner in developing the high-performance lithium-ion electric vehicle batteries.
Photo: Oliver Blume, Chairman of the Executive Board. Porsche