China continues to expand into Europe where a new battery plant will be built on the old continent.
Svolt Energy Technology, which became independent of the Great Wall native in 2018, plans to construct a research centre in conjunction with a battery manufacturing plant in non-named to the present country of Europe. The dynamic of the new construction unit is initially set at 20 GWh.
Investments for the whole project amount to about 2 billion euros. In this context, Svolt Energy announced that the construction of the plant will begin in the second half of next year, with production starting in 2022. The production dynamics of the plant will be around 24 GWh by 2025, said the senior official of Svolt, Cao Fubiao.
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The factory’s first customer will probably be the Great Wall, with Svolt Energy Technology in talks to supply batteries “German and French car manufacturers,” said Cao Fubiao. The company also announced that it continues its investigations so that at some point it is ready to present batteries without cobalt.