August 17 (Renewables Now) - Anglo-Korean next-generation battery company Eurocell EMEA has chosen the Netherlands as the site for its first European Gigafactory for battery cells and is in advanced talks with authorities in the country.
Calling for an initial investment of USD 800 million (EUR 786.4m), the plan is to build a factory to produce batteries that will be used for energy storage, automotive and e-mobility applications, Eurocell EMEA said on Wednesday. According to the company, those batteries will last over ten times longer than conventional lithium-ion cells.
Negotiations over the project are ongoing with the Dutch government and the NOM investment and development agency for the Northern Netherlands.
Eurocell EMEA intends to install the manufacturing capacity in two phases. It targets production start by early 2023 to serve existing customers, with full capacity seen to be reached by 2025. The second phase will potentially be on the same site and will enable the production of over 40 million cells.
“As we enter the final stages of discussions, we are confident that we will be able to confirm the exact location of our first European Gigafactory in the near future,” said Nick Clay, chief commercial officer, Eurocell EMEA.
(USD 1.0 = EUR 0.983)