France is next in line for a Gigafactory

The new venture aims to accelerate the production capacity of low-carbon batteries in southern Europe in order to meet growing demand for electric vehicles and stationary storage. Production at Verkor’s first Gigafactory is at the moment scheduled to begin in 2023, with a planned capacity of 16 GWh of battery cells – which will increase to 50 GWh in line with market dynamics. The facility will require an initial investment of a massive EUR 1.6 billion and is said to create more than 2’000 direct jobs. The search for 200+ hectares of land is already underway, a press release from EIT InnoEnergy reads. Verkor was founded for the same reason that many other new European battery manufacturers; to bridge the gap between the expected demand for batteries and the committed and planned European supply. EIT InnoEnergy states in the press release that the expected growth in demand this decade will require two to three Gigafactories in France alone. France’s affordable and low-carbon electricity, prominent automotive manufacturers, leading energy providers, and its demonstrated industrial prowess make it the ideal location for Gigafactories in southern Europe, a region which falls short of such projects when compared to northern and central Europe. “Our team is made up of industrial entrepreneurs who have accumulated vast experience in the field, especially in battery-cell manufacturing. We are multinational and growing fast with the addition of new talent from all over the world. We are working in an agile, fast-follower mode to bring locally manufactured, low-CO2 battery cells to the market,” says Verkor CEO, Benoit Lemaignan, in the press release.