InoBat Plans To Invest 100 Million Euros To Build The First Battery Production Line

- Aug 28, 2019-

Another local power battery company is about to be born in Europe to get rid of its dependence on Asian battery manufacturers.

Foreign media reported that Slovak Group InoBat and US energy technology company Wildcat Discovery Technologies plan to invest 100 million euros (768 million yuan) to build an electric car battery production line in Slovakia. The initial production capacity is 100MWh, and construction is scheduled to begin in 2020, and production will begin at the end of 2021.

It is understood that the production line can produce 1,500 electric vehicles for electric vehicles every year, and the long-term plan is to expand the production capacity to 10 GWh, with an annual production capacity of 150,000 battery packs.

InoBat co-founder Marian Bocek said in a statement that the partnership will allow InoBat to integrate with Wildcat's technology or potentially change the current state of the European electric vehicle power battery industry. The two companies are currently negotiating with the European Investment Bank (EIB) to get more financial support.

Technologies developed by American Energy Technologies combine high-throughput experiments (HTP) and artificial intelligence, and have partnered with numerous automakers and consumer electronics groups, including Toyota and Samsung Electronics.

This is the first electric vehicle battery production line established in Slovakia, but more power battery companies are emerging in Europe.

Currently, Swedish battery manufacturer Northvolt plans to invest billions of dollars to build a large lithium-ion battery plant in Europe, which is expected to have an annual capacity of 32GWh. The project also received financial support from automotive and industrial giants such as Volkswagen, BMW and Siemens.

At the same time, French carmaker PSA also plans to assemble battery packs for its brand of electric and hybrid vehicles at the Slovakian plant (Trnava), after which it will produce batteries at its Vigo plant in Spain.

In addition, the European Union, including the official and private battery alliances, is also gathering a number of outstanding companies to establish large-scale battery factories to enhance Europe's market position and competitiveness in the field of electric vehicles.

At present, driven by the growing demand for power batteries in European automotive electrification, including China's Samsung SDI, LG Chem, SKI, Ningde era and other Chinese and Korean battery giants have established large-scale power battery production bases in Europe, and there will be more in the later stage. Battery companies are laid out in Europe.