CATL ready to invest $ 2 billion in the European plant

28/06/2019

 

The company will build a lithium-ion battery production base and a center for research, development and product testing in Germany

 

China is currently at the forefront of electric batteries and Amperex Technology Ltd (CATL), China’s battery giant, is ready to invest up to 1.8 billion euros (about $ 2.05 billion) to expand its European research and production base, according to China Daily.

In particular, the newspaper, citing a CATL statement, said that in Germany the company will build a lithium-ion battery production base and a center for research, development and product testing.

 

Construction is estimated at no less than 60 months and the project will cover approximately 70 hectares

 

The investment will amount to a maximum of 1.8 billion euros, compared to the previous 240 million euros plan that had been drawn up last year. Construction is estimated at no less than 60 months and the project will cover approximately 70 hectares.

According to the previous CATL announcement, the project will start operating in 2021 and will have a capacity of over 14 GWh by 2022. Founded in 2011, CATL has opened branches in countries including the United States, Canada and Japan.

 

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