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Great Wall Motors SVOLT Plans to Build 20 Gwh Battery Factory in Europe

Auto News - Published on Thu, 11 Jul 2019

Image Source: google.com
Reuters reported that Chinese battery maker carved out of the country's biggest sport utility vehicle manufacturer, Great Wall Motor Co Ltd, said it is planning its first overseas manufacturing base in Europe. SVOLT Energy Technology Co Ltd, which became independent in 2018, also said it is making "good progress" on developing a cobalt-free lithium-ion battery a goal of battery producers aiming to eliminate the pricey and increasingly scarce mineral.

SVOLT general manager Yang Hongxin at an event in the Chinese city of Baoding said that "We plan to have five production bases worldwide, including in the United States, but it will take time. The global plan is to reach a capacity of 100 GWh by 2025."

The move comes as Asian battery makers deepen cooperation with automakers in Europe, where limited means of making the cells that power electric vehicles has raised concern of over-reliance on Asian manufacturers.

Chinese battery maker Contemporary Amperex Technology Co Ltd is building a 14 GWh production site in Germany and will supply batteries to local automaker BMW AG .

CATL was identified as a strategic partner by Volkswagen AG when the German automaker said it will buy 50 billion euros (USD 56.05 billion) worth of cells. Volkswagen also named South Korea's SK Innovation Co Ltd, LG Chem Ltd and Samsung SDI Co Ltd, as well as Sweden's Northvolt AB.

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Posted By : Mohan Sharma on Thu, 11 Jul 2019
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