Milan-based electric vehicle battery maker, Italvolt has announced to build Italy’s first gigafactory with a planned investment of around 4 billion euros.
Italvolt’s plant dedicated to the production and storage of lithium-ion batteries for electric vehicles will become one of the largest in Europe and the twelfth in the world by size, with 300,000 m 2 planned and an initial capacity of 45 GWh, which could reach 70 GWh, the company said in a statement.
With growing demand for lithium-ion batteries in Europe, largely coming from the automotive industry, Italvolt seeks to contribute to the production of automotive batteries. While the company did not give details of when the production at the facility will begin or how it will be financed – it noted the first phase of the project will be completed by Spring 2024.
“Our goal is to secure the future of the automotive industry and ensure that the supply chain is as green as possible from start to finish,” said Lars Carlstrom, CEO and founder of Italvolt.
As per the company estimates, the new facility will employ 4,000 workers and create a total of 10,000 new jobs.
Italvolt’s plant will be designed by the renowned Italian design house Pininfarina, and Comau – a leading company in industrial automation and specialization in electrification processes will serve as the supplier of innovative solutions, systems and technologies at the gigaplant. Comau will also be responsible for construction of an R&D lab that will welcome academics and industrial partners engaged in the development of the most advanced technologies in the electric mobility sector.
- By Shraddha Kakade,
Asst. Editor, Emerging Technology News