Europe invests $47 billion in giant electric battery factories

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With electric car sales on the rise, Europe is trying to boost its ability to produce batteries locally, rather than completely relying on Asian countries such as China, Japan and South Korea, which are currently major global manufacturers according to TheNextWeb.

And 38 giant battery cell plants have been built or planned in Europe and the UK, according to the latest report from the NGO Transport and Environment.

Of the 38 projects that have so far received funding estimated at up to $30 billion between them, the amount consists of private and public funding, including for example the Tesla mega plant in Berlin, which has received $1.4 billion in German federal support and on state level.

Ten other projects have been partially funded and supported, with at least $16.8 billion in potential investment, and these national projects include several major battery independence projects in Europe, notably Verkor in France, Britishvolt in the UK, Italvolt in Italy, Basquevolt-Nabatt in Spain, and Freyr in Norway.

In addition, 11 mega plants were recently announced, but they still lack firm commitments in terms of location, planned capacity and investment.

If all 38 plants are implemented, 462 GWh of battery cells could be produced in 2025 and 1,144 GWh in 2030 – 13 times the current European supply of 87 GWh in 2021. According to transport and environment analysis This would give Europe one fifth of global cell production by 2025, making it second only to China.

While a total plant production of 1,100 gigawatt-hours would enable Europe to operate more than 90% of all new car sales by 2030, a slowdown in electric vehicle sales would jeopardize its chance of becoming a global leader.

This means that a continuous increase in carbon dioxide emissions targets will be needed to motivate automakers to ramp up the manufacture and sale of electric vehicles by the same year.



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