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Electronics Production |
AESC Group starts work on a $1.1bn battery plant in Spain
Japan-based electric vehicle (EV) battery manufacturer AESC has broken ground on a full scale facility at Navalmoral de la Mata in Spain’s Caceres province.
AESC, which is majority-owned by China’s Envision Energy, says it will invest USD 1.1 billion in the project's first phase. This is scheduled to complete in 2026 and deliver a production capacity of 30GWh of EV batteries per year.
The factory will be Europe’s first mass production facility for lithium iron phosphate (LFP) batteries, which cost less to produce than the widely-used lithium ion batteries. AESC has not disclosed its customers, but the firm is known to work with Renault, Nissan, Daimler and Honda.
AESC also has manufacturing facilities in the UK, China and Japan and is building plants in the US and France.
