Eurocell to build battery factory in the Netherlands
The British-Korean company Eurocell will probably build its announced factory for the production of battery cells in Europe in the Netherlands. Eurocell says it is in final talks with authorities and the investment and development agency NOM.
When Eurocell first announced its plans for such a factory in Western Europe in February, it mentioned the UK, the Netherlands and Spain as potential locations for the construction of the first European Eurocell Gigafactory. Even then it was said that the final choice would depend heavily on “getting the right level of support and investment from central government”.
This is now evidently the case in the Netherlands. According to a recent statement, Eurocell is confident that it will be able to confirm the exact location “in the near future”. Discussions are at an advanced stage. Eurocell does not mention which factors exactly tipped the scales in favour of the Netherlands.
However, the company confirms its own timetable: Eurocell intends to build its new Gigafactory in two phases and to reach full capacity as early as 2025. The first phase will produce “advanced battery cells” on a large scale for existing European customers by early 2023. The second phase, possibly at the same site, will be able to produce more than 40 million cells per year by 2025.
The planned initial investment is $800 million, and the total could rise to as much as $2 billion by 2028, Eurocell said. That is currently the equivalent of 788 million euros or 1.97 billion euros.
“With rapid expansion plans in Europe, Eurocell is encouraged by the positive engagement we have had with both the Dutch Government and NOM investment and development agency for the Northern Netherlands over the last few months,” said Nick Clay, chief commercial officer, Eurocell EMEA. “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.”
Source: Info via email