Slovakian battery company InoBat said it signed a declaration of intent to build a Gigafactory in Serbia.
It said it chose Serbia, alongside other locations with suitable criteria for setting up a Gigafactory and associated value chains, to manufacture and recycle battery cells for electric vehicles (EVs) and stationary energy storage.
If realised, Serbian authorities will work with InoBat to secure all permits and licences required for the sustainable construction and operation of the plant. The Serbian government will also provide financial and material support to ensure successful development of the factory.
The company has already established its Serbian subsidiary, InoBat Auto Beograd.
Marian Bocek, CEO of InoBat, said the pilot facility in Slovakia is near completion, with the battery manufacturing line to be completed in Q1 2023. It has lined up the development of a new facility in the US, and secured the necessary regional incentives. It recently signed declarations of intent for the construction of a facility in Spain.
The Serbia deal represents further progress on InoBat’s plan to develop a global network of gigafactories, the company said.