Europe plans battery plant project, Germany and France build a total investment of up to 5 billion euros

In the early years, Peter Altmaier, Germany’s economy and energy minister, boasted: “Europe’s battery cells are not comparable to Chinese-made ‘bargains’.” “What I didn’t expect, however, was that “punching the face” came so fast. Germany and France plan to push for a battery project in Europe with a total investment of up to 5 billion euros (about 38.3 billion yuan), with a total capacity of about 48 GWh,media reported. Designed to match Tesla’s Chinese supplier’s capacity.

Germany’s Ministry of Economy and New Energy has issued a statement saying that Asian battery suppliers already dominate the field. The Ningde era and BYD, for example, were supplied by Tesla, especially after Tesla settled in China.

To this end, new battery plants in Germany and France will meet 10-15% of Europe’s battery needs. By 2030, Germany will have between 7 million and 10 million electric cars on the road. The European Commission has also said the MARKET value of the EU battery core market will be as high as 250 billion euros (about 1.9 trillion yuan) by around 2025.

In recent years, with the advent of the automotive electric trend, the Ningde era has also ushered in rapid development, with a number of domestic and foreign auto companies to establish a benign supply relationship, including Daimler, BMW, Volvo, SAIC Group, Dongfeng Motor, Geely and so on.

According to the research department of the Power Battery Application Branch, the total installed power battery in China in 2019 is about 62.2 GWh, and the installed capacity of power battery in the Ningde era is as high as 31.71 GWh, accounting for 51.01 percent of the total installed capacity in 2019.

Europe plans battery plant project, Germany and France build a total investment of up to 5 billion euros