Chinese battery cell manufacturer CATL dipped a toe into the European battery manufacturing market earlier this year when it decided to invest €240 million in a battery factory located in Erfurt, Germany. In a new filing with the Shenzhen stock exchange, the company says it will increase its investment in battery production and research in Europe to a total of €1.8 billion.
In February, Matthias Zentgraf, the head of CATL’s European operations, announced that the original plan to produce 14 GWh per year of batteries would be just a drop in the proverbial bucket. “With realistic planning, we assume — calculated at a low level — a demand of 100 GWh in 2025,” Zentgraf said. That would rival the output of Tesla’s Gigafactory 1 in Nevada.
Source: Clean Technica (LINK)
By Abhishekkumar Thakur