Eurocell will build a £600 million facility in the UK, Netherlands or Spain to make 40 million cells a year by 2025
An Anglo-Korean battery manufacturer is planning to build a gigafactory in Europe, with the UK deemed a possible location to produce up to 40 million cells a year by 2025.
Eurocell EMEA, a joint venture between FIC EMEA and three Korean battery tech firms, will invest £600m in the facility, which will supply batteries for energy storage as well as automotive and e-mobility applications.
The firm claims it is considering three locations across Europe: the UK, the Netherlands and Spain. The company currently produces batteries in South Korea and hopes to replicate its facilities in Europe.
Eurocell says its batteries last “up to 10 times longer” than conventional lithium ion cells and claims they’re more sustainable, are not as susceptible to extreme temperatures and have “no end-of-life issues.”
According to the company, its batteries will “outlive the majority of systems” they support, with a lifespan of over 25 years.
Eurocell’s factory will produce cells in two phases, starting with a smaller facility to produce advanced battery cells at scale by early 2023. A second facility will ramp up production to around 40 million cells a year by 2025.
“Eurocell in the UK is a new company, led by a highly experienced UK team and backed by our South Korean partner with decades of experience in electro-chemistry, making batteries at mass scale and building the gigafactories to produce them,” said Recardo Bruins, Eurocell CEO.
“Now we are planning to rapidly expand in Europe, supplying the energy storage and automotive industries with our market-leading technologies. These products can be on the market in months, not years.”
Eurocell also suggests its final decision will depend on the level of government support and investment offered. “Hundreds” of jobs will be created by the factory.
Bruins said: “To fulfil our mission, we are actively seeking a European manufacturing base and are in advanced discussions with sites in the UK, Netherlands and Spain. With the right level of central engagement and support, we are keen to take advantage of the rapidly growing European market as quickly as possible.”
Should the factory be constructed in the UK, it would rival Britishvolt, which secured £1.7 billion in funding for its own UK gigafactory. Production there is expected to begin in 2024.
Keyword: Anglo-Korean battery firm considering UK gigafactory