BMZ spin-off plans to build Giga factory for lithium-ion cells

BMZ spin-off plans to build Giga factory for lithium-ion cells

Business news |
By Christoph Hammerschmidt

The goal is to gradually build up production capacities of up to 34 GWh / year by the year 2028. The business model will be a “foundry”, similar to the widespread business model in the semiconductor industry. The markets of industry and electromobility are addressed with different cell formats. Upon request, Ulrich Ehmes explained that the company plans to qualify battery cells for electric vehicles to position itself as a supplier to future electromobility markets. From the beginning however, TerraE will manufacture batteries for power tools in the first place, “because this is a market that is already growing very rapidly,” Ehmes said. He added that BMZ will hold one third of the shares.

Production start is scheduled for 2019. Currently TerraE is evaluating various locations for the factory.  The funding is to be ensured by industrial partners as well as financial investors. Talks with partners in other European countries are under way, the company said. An important role in TerraE’s manufacturing concept will play the findings devised in the “Giga-LIB” project, which was funded by the German Federal Ministry of Education and Research.

More information: TerraE

Related news:

Samsung to build ‘gigafactory’ in Hungary

European ‘Gigafactory’ opens

European-sourced lithium rechargeable battery production to increase

If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :    eeNews on Google News


Linked Articles