Chinese Battery Supplier Plans Five Europe Plants
- SVolt close to agreeing three more supply deals in Europe
- Manufacturer says it’s battling skilled labor, land shortage
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Chinese battery maker SVolt Energy Technology Co. is set to expand its footprint in Europe to as many as five factories, with talks to supply the region’s carmakers well underway.
SVolt, spun out of BMW AG partner Great Wall Motor Co., already has two locations in Germany with one facility set to start supplying Stellantis NV from 2025. The company targets production capacity of at least 50 gigawatt-hours in Europe by the end of the decade, according to SVolt Europe head Kai-Uwe Wollenhaupt. That’s enough to power as many as 1 million EVs.