Plans unveiled for €1.6bn gigafactory in France to supercharge growing battery demand

Production in the gigafactory is scheduled to begin in 2023 with a capacity of 16GWh of battery cells which will later increase to 50GWh

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Battery cell production in Europe will get a boost with the construction of a new gigafactory in France.

The French industrial company Verkor has announced it will work with EIT InnoEnergy, the energy firm Schneider Electric and the property company GROUPE IDEC to build the facility, which will require an initial investment of €1.6 billion (£1.4bn) and will create more than 2,000 jobs.

The firm confirmed it will start the construction of the project in 2022 and expects production to begin one year later, with a capacity of 16GWh of battery cells which will later increase to 50GWh.

Diego Pavia, CEO of EIT InnoEnergy, said: “The first Verkor Gigafactory will help bridge the gap between Europe’s planned demand and currently forecasted European supply in this decade.”

Christel Galbrun-Noel, Mobility Segment President at Schneider Electric, commented: “This brings together the best of energy management and industrial expertise to build green, competitive batteries as part of our commitment to helping the European transition to EVs.”

Recent surveys show the expected growth in battery demand this decade will require three to four gigafactories in France alone.

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