SVOLT, battery firm linked with Chinese SUV maker Great Wall, to build 20 GWh factory in Europe
- SVOLT Energy Technology plans to build five production bases worldwide, including in the US
- Company says it is making ‘good progress’ on developing cobalt-free lithium-ion battery
A Chinese battery maker carved out of China’s biggest sport utility vehicle manufacturer, Great Wall Motors, on Tuesday said it was planning its first overseas manufacturing base in Europe.
SVOLT Energy Technology, which became independent in 2018, also said it was 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.
“We plan to have five production bases worldwide, including in the United States, but it will take time,” SVOLT general manager, Yang Hongxin, said at an event in Baoding, in China’s central Hebei province. “The global plan is to reach a capacity of 100 gigawatt hours [GWh] by 2025.”
The move comes as Asian battery makers deepen cooperation with carmakers in Europe, where limited means of making the cells that power electric vehicles have raised concerns of overreliance on Asian manufacturers.
Chinese battery maker Contemporary Amperex Technology (CATL) is building a 14 GWh production site in Germany and will supply batteries to local carmaker BMW.
CATL was identified as a strategic partner by Volkswagen when the German carmaker said it will buy €50 billion (US$56.05 billion) worth of cells. Volkswagen also named South Korea’s SK Innovation, LG Chem and Samsung SDI, as well as Sweden’s Northvolt.
