Chinese lithium giant Contemporary Amperex Technology (CATL) has revealed it is set to pour a total of up to €1.8 billion (US$2.1bn) of cash into its planned electric vehicle (EV) battery plant in Germany.
CATL said the proposed investment included €240 million already pledged for the project at Erfurt, in the east-central state of Thüringen.
A new batteries research and innovation forum— the Batteries Europe Platform— has been launched by European Union energy chief Maroš Šefčovič.
Šefčovič (pictured) said the initiative would be a forum setting out Europe’s strategic research and innovation needs and linking existing EU-backed funding programmes to support the European Batteries Alliance.
South Korea’s LG Chem is setting up a joint electric vehicle batteries business with Chinese carmaker Zhejiang Geely Holding Group.
Each company has invested around US$94 million in the 50-50 joint venture, which, by the end of 2021, will produce 10GWh of EV batteries annually for the Chinese market.
Swiss battery storage company Leclanché is to ramp up production capacity for lithium-ion battery modules for transport applications at a new facility in Switzerland.
Leclanché is partnering with Italian industrial automation firm Comau for the project, which will see an automated production line installed in a new facility being built at a technology park adjacent to Leclanché’s headquarters in Yverdon-les Bains.
Battery manufacturing start-up Northvolt has raised US$1 billion for its planned Swedish gigafactory project— and has revealed it will build a second such facility in Germany in partnership with Volkswagen.
Northvolt said the equity capital raise for the lithium-ion battery cells plant at Skellefteå had been led by VW and Goldman Sachs Merchant Banking Division, alongside BMW, AMF, Folksam Group and IMAS Foundation.