The battery electric vehicle market is set to expand significantly over the next few years given stricter EU legislation on CO2/km emissions, decreased total cost of ownership of EV and improved customer experience. In southern Europe, some 100 to 170 GWh of battery cells will be required by 2030.
Verkor is set to accelerate the production capacity of low-carbon batteries in southern Europe (France, Italy and Spain) to meet the rapidly growing demand for electric vehicles and stationary storage. Production in Verkor’s first Gigafactory is scheduled to begin in 2023 with a capacity of 16 GWh of battery cells, which will then increase to 50 GWh in line with market dynamics.
• A team of professionals with extensive experience in industry, the automotive sector, battery-cell manufacturing, financing and technological ecosystems.
• The Gigafactory will be built adopting a fast follower strategy, focusing on process optimisation and extensive digitalisation.
• Benefits of a southern Europe location include an EU competitive value chain and a strong local industrial ecosystem.
• An attractive business model, conscious of key societal trends.
• A focus on reliability, performance and resource-consciousness.