Europe accelerates efforts to attract EV battery manufacturers
Europe accelerates efforts to attract EV battery manufacturers (Photo: Unsplash)
Europe is intensifying its push to persuade EV battery makers to build gigafactories in the continent, in an attempt to diversify after predominantly depending on Asian markets, and boost its environmental agenda. This initiative can be attributed to furious search for green subsidies and Europe’s efforts to become the leading market of environmentally friendly transport.
One notable milestone achieved on this front is the innovation of planned factories spanning throughout the different European nations. For example, Stellantis, Mercedes-Benz, and Total have established a joint venture, ACC, and huge financing has been guaranteed; ACC aims to invest more than 7 billion euros in three gigafactories by 2030, each with a 40 GWh capacity. Likewise, Stellantis has plans to create a factory for LFP batteries in Europe by partnering with Cater, another dominant EV battery maker from China.
Also Read:Fiat bets on hybrid 500e to boost sales amid sluggish EV market
Now, let’s look at some of the countries in Europe that are involved in battery manufacturing projects. Currently in Belgium, Avesta Battery and Energy Engineering is poised to run a plant that has a rating of 3 GWh. In Britain, several projects are in progress, confirming the West Midlands Gigafactory JV in Coventry but also the Tata Group’s gigafactory in Somerset. The company MES has a plant in Czechia with an intention of producing 15 GWh while the Finnish company Finnish Minerals Group has explored cell production plants.
The countries that are also involved in battery manufacturing in Europe include France, Germany Hungary, Italy, Norway, Poland, Portugal, Serbia, Slovakia, Spain, Sweden and Switzerland with some of them currently operating and others in the pipeline.
Recent trends, where Europe keenly targets numerous EV battery manufacturers, reflect the shift towards sustainable mobility. These initiatives not only give good investment prospect to investors but also are environment friendly and beneficial for the African continent hence securing Europe’s future which seeks to be green.
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