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Consortium Plans Giant Battery-Making Complex in Europe
Terra E Holding GmbH plans to choose the European location next month for a huge lithium-ion battery plant to rival the output of Tesla Inc.’s “gigafactory” in Nevada.
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Terra E Holding GmbH plans to choose the European location next month for a huge lithium-ion battery plant to rival the output of Tesla Inc.’s “gigafactory” in Nevada.
The consortium of 17 unidentified German companies says its €1 billion, 34 gigawatt-hour facility will reach full capacity in 2028, Bloomberg News reports. That compares with a targeted capacity by 2018 of 35 GWh for Tesla’s factory.
Terra E CEO Holger Gritzka tells Bloomberg the group will focus on making batteries for stationary storage units and other non-automotive applications.
Bloomberg estimates that global demand for batteries will climb to 278 GWh by 2021 from 103 GWh today. Asian battery makers currently dominate the global market.
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