Published

Chinese Battery Maker Plans European Factory

China’s SVOLT Energy Technology Co. plans to open a €2 billion lithium-ion battery plant and development center somewhere in Europe in 2022.
#hybrid

Share

China’s SVOLT Energy Technology Co. plans to open a €2 billion lithium-ion battery plant and development center somewhere in Europe in 2022, Reuters reports.

Construction is expected to begin in the second half of 2020. SVOLT says the facility will open in 2022 with 20 gigawatt-hours of capacity and expand to 24 GWh by 2025.

The battery maker was spun off last year by Great Wall Automobile Holding Co. The company currently is erecting its first battery plant in Changzhou. That facility will have an initial annual capacity of 12 GWh, eventually expanding to 70 GWh.

SVOLT General Manager Yang Hongxin says the company hopes to establish five production bases and 100 GWh of operational capacity worldwide by 2025. Chinese plants in Changzhou, Chengdu/Chongqing and Guangzhou will have combined capacity of 60 GWh. Europe and the U.S. each will get one 30 GWh facility, Yang says.

RELATED CONTENT

  • Choosing the Right Fasteners for Automotive

    PennEngineering makes hundreds of different fasteners for the automotive industry with standard and custom products as well as automated assembly solutions. Discover how they’re used and how to select the right one. (Sponsored Content)

  • Mustang Changes for 2018

    On Tuesday Ford unveiled—using the social media channels of actor Dwayne Johnson (this has got to unnerve some of the auto buff book editors)—the 2018 Mustang, which has undergone some modifications: under the hood (the 3.7-liter V6 is giving way to a 2.3-liter EcoBoost four, and a 10-speed automatic is available), on the dash (a 12-inch, all-digital LCD screen is available for the dashboard), at the tires (12 wheel choices), on the chassis (MagneRide damper technology is being offered with the Mustang Performance Package), and on the exterior (three new paint colors). And while on the subject of the exterior, there are some notable changes—a lower, remodeled hood, repositioned hood vents, new upper and lower front grilles, LED front lights, revised LED taillamps, new rear bumper and fascia.

  • GM Is Down with Diesels

    General Motors is one company that is clearly embracing the diesel engine.

Gardner Business Media - Strategic Business Solutions