SVOLT aims to establish 5 Battery plants in Europe, targeting 50 GWh capacity by 2030
Chinese battery maker SVOLT is reportedly planning to set up as much as five battery manufacturing facilities in Europe, as the company is gradually expanding its market reach in the region to cater to the emerging demand for EV battery packs.
According to a recent report from Bloomberg News, SVOT is looking at possible locations in the eastern, northern and western Europe for battery plants, with one site with a larger capacity of about 20 GW range. Quoting Kai-Uwe Wollenhaupt, President of SVOLT Europe, the report claims that the company is targeting a production capacity of at least 50 GWh by the end of the decade in the region.
It is to be noted that SVOLT is already building its first-ever battery cells manufacturing plant in Europe at Lauchhammer in the Brandenburg state of Germany. The company has said that the customer sample validation of battery cells from the plant is planned by the start of 2025.
The cells will then be further processed at Heusweiler in Saarland, Germany into battery modules and battery packs for use in electric vehicles. This site is expected to be the second battery facility of SVOLT in Europe, with construction scheduled to start in 2027, according to news reports.
The Bloomberg News also notes that SVOLT is in touch with several European carmakers to make battery supply agreements, as the EV market in the region is emerging to be one of the top three, next to China and North America.
Given the domination of Chinese battery companies in the EV landscape of Europe, it is predicted that Asian companies may hold as much as 44 percent of the total battery manufacturing capacity in the region by 2030, with CATL topping the list.