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CATL Details Battery Plant Project in Germany
China’s Contemporary Amperex Technology Ltd. has provided more details about the huge battery plant it is building in Germany to supply European makers of electric cars.
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China’s Contemporary Amperex Technology Ltd. has provided more details about the huge battery plant it is building in Germany to supply European makers of electric cars.
CATL announced plans for the factory last summer. But at the time it didn’t indicate the facility’s cost, capacity or launch data.
Now the Chinese company says the €240 million ($273 million) complex outside Erfurt in eastern Germany will open in 2021 with initial annual capacity of 14 gigawatt-hours. The facility could expand output to as much as 60 GWh by 2026, The Nikkei reports.
The plant is being built to supply some €1.5 billion ($1.7 billion) worth of EV batteries to BMW AG as part of the German carmaker’s €4 billion ($4.5 billion) order with CATL. The facility also expects to supply Daimler and PSA Group.
Matthias Zentgraf, president of CATL operations in Europe, predicts that demand for lithium-ion EV batteries in Germany alone will to soar to at least 100 GWh by 2025.
Zentgraf says the plant’s expansion will be driven by the European Union’s plan to require that carmakers slash carbon dioxide emissions from new cars 37.5% by 2030 compared with 2021 levels.
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