- Eurocell plans to set up a battery factory in Western Europe
- The factory’s batteries will last ten times longer than conventional batteries.
Anglo-Korean next-generation battery company Eurocell plans to construct its first European Gigafactory with an initial investment of GBP 600 million (USD 818m) over two phases.
According to the announcement made by the developer, the facility will be built in Western Europe, either the UK, Netherlands or Spain. Chief executive Recardo Bruins commented that the company is already holding advanced discussions with sites in those three countries. However, the final choice depends on securing the right support from the central government, Eurocell noted.
According to the firm, the factory will produce batteries that last over ten times longer than conventional lithium-ion cells. They will be used for energy storage, automotive and e-mobility applications. The company targets production to start by early 2023 to serve existing customers, with full capacity to be reached by 2025.