Eurocell builds £600m European gigafactory to produce batteries in a year
Anglo-Korean battery producer Eurocell announced today it will build its first European gigafactory and start delivering batteries by next year.
With an initial £600m investment, Eurocell’s gigafactory will mass produce and export its batteries from one of the main markets – the UK, Spain or the Netherlands.
The company has said that the factory’s location will be highly dependent on what kind of support and investment it can get from the countries’ governments.
“To fulfil our mission, we are actively seeking a European manufacturing base and are in advanced discussions with sites in the UK, Netherlands and Spain,” said Recardo Bruins, Eurocell’s EMA chief executive. “With the right level of central engagement and support we are keen to take advantage of the rapidly growing European market as quickly as possible.”
Built in two phases, the factory will reach full capacity in 2025.