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在线翻译:
szdaily -> Business/Markets -> 
Great Wall-linked battery maker to build factory in Europe
    2019-07-10  08:53    Shenzhen Daily

A CHINESE battery maker carved out of the country’s biggest sport utility vehicle manufacturer, Great Wall Motor Co., yesterday said it is planning its first overseas manufacturing base in Europe.

SVOLT Energy Technology Co., which became independent in 2018, also said it is making “good progress” on developing a cobalt-free lithium-ion battery — a goal of battery producers aiming to eliminate the pricey and increasingly scarce mineral.

“We plan to have five production bases worldwide, including in the United States, but it will take time,” said SVOLT general manager Yang Hongxin at an event in the Chinese city of Baoding. “The global plan is to reach a capacity of 100 GWh by 2025.”

The move comes as Asian battery makers deepen cooperation with automakers in Europe, where limited means of making the cells that power electric vehicles has raised concern of over-reliance on Asian manufacturers.

Chinese battery maker Contemporary Amperex Technology Co. Ltd. (CATL) is building a 14 GWh production site in Germany and will supply batteries to local automaker BMW AG.

CATL was identified as a strategic partner by Volkswagen AG when the German automaker said it will buy 50 billion euros (US$56.05 billion) worth of cells. Volkswagen also named South Korea’s SK Innovation Co., LG Chem Ltd. and Samsung SDI Co., as well as Sweden’s Northvolt AB.

SVOLT plans to build a base in an as yet undecided European country, featuring a research center and factories for battery materials, cells and modules with initial capacity of 20 GWh, its general manager, Yang said.

Investment will be around 2 billion euros, Yang said. As part of that, SVOLT aims to seek about 1 billion yuan (US$145.34 million) in its next fundraising round this year. It will raise more funds to support construction which begins in the second half of next year, with production starting in 2022.

Production capacity will be around 24 GWh by 2025, senior SVOLT official Cao Fubiao said. The plant’s first customer will likely be Great Wall Motor, and SVOLT is in talks to supply “German and French car manufacturers,” Cao said, declining to identify the automakers.

(SD-Agencies)

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