TESVOLT AG has officially begun the construction of its new giga factory at its headquarters in Lutherstadt, Wittenberg city, Germany.
TESVOLT held a ground-breaking ceremony for its TESVOLT giga factory, earlier this week (April 8) in the presence of government officials, battery industry partners, and its employees. With a planned annual production capacity of 4 gigawatt-hours, TESVOLT said it will build one of the largest facilities for commercial stationary battery storage systems in Europe.
The company's investment volume is planned at around 30 million euros for the first phase of construction, which includes the production facility and the fully automated high-bay warehouse. The TESVOLT giga factory, which will cover an area of almost 6,000 square meters, is scheduled to operate in 2025.
"Today's ground-breaking ceremony marks a milestone for our company. With the new giga factory, we will be able to increase our production capacity for TESVOLT storage systems to up to 80,000 storage systems per year," said Daniel Hannemann, Co-Founder and CEO of TESVOLT.
"We are thus also setting new international standards. This brings us one step closer to our goal of supplying every corner of the world with affordable, green energy. Because without battery storage, there will be no energy transition."
The enhanced production capabilities correspond to a tenfold increase in current capacity.
In its second phase of construction, TESVOLT will begin construction of a research and development centre which will also be built on the TESVOLT site over the next few years. TESVOLT will further develop its innovative battery storage systems at the R&D centre.
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