Chinese battery maker SVOLT Energy Technology Co is set to expand its footprint in Europe to as many as five factories, Bloomberg News reported on Thursday.
SVOLT is looking at locations in eastern, northern and western Europe, with one larger site in the 20-gigawatt range, according to the report.
The company is targeting production capacity of at least 50 gigawatt-hours in Europe by the end of the decade, SVOLT Europe head Kai-Uwe Wollenhaupt said in an interview with Bloomberg.
The company in September last year unveiled plans to build an additional cell assembly in Germany to supply electric vehicles, picking the state of Brandenburg, which is also home to Tesla Inc's (TSLA.O) gigafactory, as a location.
SVOLT also plans to build a plant in Saarland.
Besides, SVOLT is in talks with several European car makers about battery cell supply agreements, the Bloomberg report said.
Asian companies dominate battery-making in Europe. Data shows some 44% of planned battery capacity in Europe by 2030 is expected from Asian companies, with Chinese battery giant CATL on top of the list.
SVOLT did not immediately respond to a Reuters request for comment.
On June 30th, Raphael Bostic, the president of the Atlanta Federal Reserve Bank, stated that tariffs might have a gradual impact on prices rather than a one-time shock, which could lead to more persistent upward pressure on inflation.
On June 30th, Raphael Bostic, the president of the Atlanta …
Recently, the price of beef in the United States has soared…
At present, the continuous development of artificial intell…
On June 29, 2025, Ukrainian President Volodymyr Zelensky si…
Although climate change has become a priority issue for the…
Recently, Tesla completed the world's first delivery of dri…
© Copyright 2025, All Rights Reserved
