Germany’s Tesvolt said is progressing the development of what it claims will be Europe’s first factory capable of supplying 1GWh of battery storage systems per year.
The first phase of construction, involving 12,000 square metres of factory floor space, would be finished in June, the company said.
The final phase would comprise an area of 20,000 square metres, it added, without providing an estimated completion date.
The factory is being built in Lutherstadt Wittenberg and will be fully supplied with solar energy.
Tesvolt said it is financing the “multimillion-euro investment” without any outside funding, other than EU providing 10% of production line costs.
The company’s products utilise prismatic lithium battery cells from Samsung SDI, based on nickel manganese cobalt oxide.