German TerraE plans European giga battery factory
German company TerraE plans to build in cooperation with 17 partners the biggest European car battery factory so far. By 2028 the capacity must be equal to the capacity of the Tesla Gigafactory in Nevada.
By the end of 2019 the factory will produce lithium ion batteries. These batteries are a crucial component of electric cars. The German company TerraE was able to bring together 17 companies among which BMZ, a company that is specialized in industrial battery solutions. The project already earned 5,2 million euro of subsidies by the German Ministry of Education and Research.
TerraE will soon announce where the plant will be built. This might be in Germany or a neighbouring region. Five locations are in the running, but it is still unclear where they are located. When the factory will run on full capacity in 2028, it will produce 34 GWh of battery power a year. The German company hopes to be able to compete with the Tesla Gigafactory in Nevada which will produce 35 GWh a year by 2028.
1 billion euro
“Our production technology must be better than the one of our competitors”, says Holger Gritzka, CEO of TerraE. He used to be responsible for electro-mobility at the German Thyssenkrupp technology giant. He wants to cooperate with specialists such as Kuka and Siemens. The whole project will cost 1 billion euro and will be paid for by investors and partners which might become clients.
The German Federal Chancellor Angela Merkel believes in the project. Also the German car industry shows interest to become less dependent of foreign companies. Last may, Daimler (Mercedes-Benz) invested already 500.000 euro in a battery plant.